Sensex, Nifty close on strong note this week over US-Iran peace talks

MUMBAI: The Indian benchmark indices closed on a strong note this week, supported by optimism surrounding US–Iran peace talks.

Additionally, appreciation in the rupee and a cooling in crude oil prices kept trader sentiment upbeat, leading to broad-based buying across sectors, said analysts.

At close on Friday, Sensex surged by 504.86 points or 0.65 per cent to settle at 78,493.54, while Nifty gained 156.80 points or 0.65 per cent to close at 24,353.55.

On the sectoral front, buying interest was seen across most sectors, with the market trading on a positive undertone, according to a note by Bajaj Broking Research.

The key gains were witnessed in Nifty FMCG, Metal, and Oil and Gas indices, which advanced in the range of 1 per cent to 3 per cent, while Nifty IT remained a laggard.

The broader market outperformed the benchmark indices, with the Nifty Midcap rising around 1.27 per cent and the small cap index advancing approximately 1.48 per cent, said the note.

Indian equity markets staged a steady and orderly recovery through the week, supported by an improvement in global sentiment and a sharp moderation in crude oil prices.