Indian benchmark equity indices closed significantly higher on Thursday, driven by a drop in global crude oil prices following positive signals from US-Iran trade discussions, which bolstered investor confidence. The Nifty concluded at 24,175.70, up by 169.85 points or 0.71%, while the Sensex surged by 579.48 points or 0.75% to settle at 77,502.12.
Experts analyzing the Nifty’s technical outlook noted a consistent buying trend during the session, pushing the index towards the 24,200 resistance level. They suggested that a sustained breakout above this range could strengthen bullish momentum, potentially leading to an upward move towards the 24,400–24,450 region, where the 200-day EMA is situated.
The 24,000 mark is anticipated to serve as immediate support, according to market specialists. Notably, technology stocks spearheaded the market rally, with Infosys, Tech Mahindra, and Tata Consultancy Services emerging as top gainers in the Nifty index. This robust performance enabled the Nifty IT index to record its most significant single-day increase since May 2025.
The broader market also joined the uptrend, with the Nifty MidCap index closing 0.48% higher and the Nifty SmallCap index outperforming with a 1.25% gain. Various sectoral indices, including Nifty IT, Nifty Auto, Nifty Consumer Durables, and Nifty Realty, witnessed substantial gains, buoyed by positive global cues and reduced concerns over oil prices, which uplifted market sentiment.
Analysts attributed the sustained optimism in the domestic market to declining energy costs and recent India–Japan agreements in critical sectors like AI, defense technology, and energy security.
