Sensex, Nifty trade higher as investors track US-Iran ceasefire developments

In early Friday trading, Indian stock indexes edged upward as market participants kept a close eye on unfolding events in West Asia and waited for any news about a possible prolongation of the US‑Iran truce.

The Sensex climbed up to 352 points, a gain of 0.46%, reaching an intraday peak of 76,220, whereas the Nifty gained roughly 100 points, or 0.40%, to settle near 24,002.

Sector‑wise, IT shares spearheaded the advance, with the Nifty IT index up more than 2%; mid‑cap IT, telecom, healthcare, pharmaceuticals and PSU banks also posted gains, while realty, media and metal indices moved into the green.

Conversely, chemicals, consumer durables and financial‑services sectors faced selling pressure, whereas FMCG shares remained largely unchanged.

At the same time, Bharti Airtel, ONGC, Eicher Motors, BEL and HDFC Bank figured among the leading decliners on the Nifty.

Analysts point out that falling crude oil prices and better‑than‑anticipated corporate results are becoming major tailwinds for the equity market.

They added that cheaper oil could bolster India’s macroeconomic outlook and strengthen the rupee, while defence, capital‑goods, financial and pharma sectors retain upside potential.

In the commodities arena, Brent crude slipped 1.24% to $91.55 a barrel, while US WTI dropped almost 2% to $87.37 per barrel.

Asian equity markets were firmly in the green, with Japan’s Nikkei advancing over 2%, while Hong Kong’s Hang Seng and South Korea’s KOSPI jumped as much as 3%.

Overnight, U.S. markets closed higher, the S&P 500 rose 0.58% and the Nasdaq added close to 1%.