Domestic equity markets ended higher on Tuesday, extending their winning streak as investors cheered the announcement of a <a href="https://www.mid-day.com/news/world-news/photo/in-photos-new-york-stock-exchange-opens-strong-after-peace-deal-announcement-111624/1" target="_blank" rel="nofollow noopener">US-Iran deal </a>that improved risk appetite and boosted sentiment across global and domestic markets.
The benchmark Sensex rose 544.15 points, or 0.71 per cent, to close at 76,808.48, while the Nifty gained 135.25 points, or 0.57 per cent, to settle at 23,995, just below the key 24,000 level.
Commenting on the Nifty's technical outlook, analysts said the 24,000 psychological mark continues to be the immediate resistance zone.
"A sustained move above 24,000 could strengthen bullish momentum and open the door for a further advance towards the 24,200&ndash;24,400 region," a market expert said.
"On the downside, 23,900 is expected to act as immediate support," the analyst added.
The positive momentum was supported by strong buying in select heavyweight stocks. HCLTech, Tata Consumer Products and Bajaj Finserv emerged as the top gainers on the Nifty, helping lift the broader market.
Among Sensex constituents, IndiGo, UltraTech Cement, Maruti Suzuki India, Tata Steel, State Bank of India and Sun Pharma were among the top losers.
The rally was not limited to frontline stocks, with broader indices also ending in positive territory.
The <a href="https://www.mid-day.com/business/business-news/article/sensex-jumps-over-300-points-nifty-tops-23-900-as-us-iran-deal-lifts-markets-23635376" target="_blank" rel="nofollow noopener">Nifty</a> MidCap index advanced 0.41 per cent, while the Nifty SmallCap index gained 0.42 per cent.
Sector-wise, real estate, media and consumer durables stocks led the gains. The Nifty Realty, Nifty Media and Nifty Consumer Durables indices outperformed the broader market.
In contrast, metal stocks remained under pressure, with the Nifty Metal index emerging as the biggest sectoral loser of the day.
Market participants remained encouraged by easing <a href="https://www.mid-day.com/business/stock-market/article/stock-markets-drop-in-early-trade-on-relentless-foreign-fund-outflows-geopolitical-tensions-23612813" target="_blank" rel="nofollow noopener">geopolitical tensions</a> following the US-Iran deal announcement, which helped improve global market sentiment and supported risk assets.
The positive backdrop, combined with selective sectoral buying, enabled Indian benchmark indices to extend their upward trajectory and maintain momentum near record levels.
The Indian rupee also continued to exhibit a firm undertone, extending its upward trajectory amid a favourable macroeconomic backdrop.
"In the near term, USD/INR is expected to maintain a downward bias, with spot levels likely to gravitate towards 94.10," an analyst said.
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Domestic equity markets ended higher on Tuesday, extending their winning streak as investors cheered the announcement of a US-Iran deal

Markets extend winning streak; Sensex up 544 points, Nifty at 23,995

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The benchmark Sensex rose 544.15 points, or 0.71 per cent, to close at 76,808.48, while the Nifty gained 135.25 points, or 0.57 per cent, to settle at 23,995, just below the key 24,000 level

Sensex rises 544 points, Nifty nears 24,000 as US-Iran deal boosts sentiment

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