Mumbai: Indian stock markets rebounded on Tuesday, ending a two-day losing streak as investor sentiment improved after US President Donald Trump signalled that the ongoing conflict with Iran may end soon. The comments reduced global market worries and supported buying across several sectors.
The benchmark indices closed the session in positive territory with strong gains in broader markets and several key sectors.
Benchmark Indices End Higher
The Nifty gained 233.5 points, or 0.97 per cent, to close at 24,261.6. The Sensex climbed 639.82 points, or 0.82 per cent, to settle at 78,205.98.
The rally came after two consecutive sessions of decline, as investors returned to equities following signs that geopolitical tensions in the Middle East could ease.
Market experts said the positive cues from global developments helped stabilise investor confidence during the trading session.
Broader Markets Outperform
Broader market indices performed better than the benchmark indices during the day.
The Nifty Midcap 100 advanced 1.62 percent, while the Nifty Smallcap 100 rose 2.12 per cent. Strong buying interest in mid- and small-cap stocks contributed to the overall market recovery.
Analysts noted that improved risk sentiment encouraged investors to increase exposure to broader market stocks.
Sectoral Performance Mixed
Among sectoral indices, the Nifty Auto index emerged as the top performer during the session.
The Nifty Consumer Durables index and the Nifty Financial Services Ex-Bank index also recorded notable gains, indicating strong buying across consumer-linked and financial stocks.
However, not all sectors participated in the rally. The Nifty IT index was the worst performer during the day, while the Nifty Oil & Gas index also lagged the broader market.
Technical Levels to Watch
Market experts highlighted important technical levels for the Nifty index.
On the upside, immediate resistance is placed near 24,300. A decisive breakout above this level could extend the recovery toward 24,600, which is considered the next key short-term resistance.
On the downside, the 24,000 level remains an important support zone for the index.
Global Cues Support Market Sentiment
According to media reports, US President Donald Trump indicated that the conflict with Iran could be resolved “very soon,” amid rising political and economic pressure following volatility in global energy markets.
The possibility of a de-escalation in the Middle East helped ease geopolitical concerns and triggered a correction in global crude oil prices.
Experts said investors will continue to track developments related to the Iran conflict and other global economic signals to determine the market’s next direction.
