Indian equity markets showed a strong rally on Friday, with the Sensex jumping nearly 1,700 points and the Nifty crossing the 23,600 level. The Sensex closed at 75,527.95, marking a gain of 1,695.40 points, or 2.30 percent, from the previous close. The Nifty also ended on a high note at 23,622.90, up by 461.30 points, or 1.99 percent.
Experts analyzing the Nifty’s technical outlook mentioned that a sustained rise above 23,800 could further boost investor sentiment and potentially lead the index towards the psychological milestone of 24,000. They highlighted the 23,550–23,500 range as a crucial support zone, now turned from resistance to support post the breakout.
The market surge followed US President Donald Trump’s statement about a “great settlement” with Iran, awaiting finalization of the agreement. This announcement sparked optimism among investors globally, who anticipated that reduced geopolitical tensions could stabilize energy markets and lower uncertainty levels.
Notable gainers among Nifty stocks included Shriram Finance, Bajaj Finance, and Larsen & Toubro. The broader market also witnessed significant gains, with the Nifty MidCap index rising by 2.43 percent and the Nifty SmallCap index by 2.8 percent.
Real estate and financial sectors led the upward trend, with the Nifty Realty and Nifty Financial Services indices surging over 3 percent each, outperforming other sectors. In contrast, the Nifty IT index lagged behind, emerging as the weakest-performing sector during the session.
