Indian equity benchmarks extended their gains for a third consecutive session on Tuesday, as investor sentiment improved amid expectations that the United States and Iran may prolong their ceasefire during upcoming talks.
The Nifty and the Sensex ended higher, supported by buying in select heavyweight stocks and optimism around easing geopolitical tensions in West Asia.
At the closing bell, the Nifty was at 24,576.60, up by 0.87 per cent or 211.75 points. The Sensex ended the intra-day session 0.96 per cent or 753.03 points higher at 79,273.33.
Commenting on Nifty technical outlook, experts said that the 24,600 level now acts as an immediate resistance where minor supply was observed.
“A decisive breakout and sustained move above this level could open further upside toward 24,850, followed by the key psychological level of 25,000, where stronger supply is expected,” an analyst stated.
“On the downside, the 24,350–24,400 range has now turned into an immediate support zone after acting as resistance earlier,” an analyst mentioned.
Among the top gainers on the Nifty were Nestle India, Trent, and Hindustan Unilever, which helped lift the benchmark index.
Broader markets also reflected positive momentum, with the Nifty MidCap index closing 0.49 per cent higher and the Nifty SmallCap index rising 0.88 per cent.
On the sectoral front, the Nifty FMCG and the Nifty Realty outperformed other indices, driven by strong buying interest.
In contrast, the Nifty Pharma lagged and emerged as the worst-performing sector for the day.
Investors remained cautiously optimistic about geopolitical developments, as both Iranian and US delegations, along with US Vice President JD Vance, are expected to participate in talks aimed at reaching a broader agreement to end hostilities in the region.
However, uncertainty persists as tensions between the two countries escalated ahead of the meeting.
Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said in a post on X that Tehran does not support negotiations under threats and indicated that the country is prepared to respond strongly if required.
Earlier, US President Donald Trump warned that failure to reach an agreement before the ceasefire deadline could trigger fresh military escalation, stating that “a lot of bombs” could go off if talks collapse.
“Indian equities are expected to continue their gradual upmove, supported by improving macros, easing crude, and strong Q4 earnings momentum,” an analyst stated.
