Indian equity benchmarks closed sharply higher on Friday, with the Nifty 50 settling above the 23,800 mark and the Sensex surging over 550 points. The rally was fueled by optimism surrounding a potential Iran-US nuclear deal, with reports suggesting Iran may be willing to negotiate on enriched uranium stockpiles, easing geopolitical tensions and supporting risk sentiment.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,790.55 | — | — |
| Sensex | 75,183.36 | — | — |
The Indian market demonstrated strong intraday resilience, recovering from early weakness to post solid gains across most sectors. The Nifty 50 traded in a range of 23,671.00 to 23,828.50 during the session, reflecting volatility before settling near the upper end of the day's range. The index opened at 23,671.20 and climbed steadily through the afternoon as buying momentum picked up.
The rupee rebounded during the session, providing additional support to domestic equities. Currency stability helped ease concerns about imported inflation and capital flows, adding to the positive market sentiment. The broader market participated in the rally, with buying interest spread across key sectors.
Banking stocks contributed to the advance, with the Nifty Bank index closing at 53,439.40. The IT sector also posted gains, with the Nifty IT index settling at 29,021.10. Auto stocks remained in focus, with the Nifty Auto index at 25,986.25, reflecting sectoral rotation as investors positioned ahead of the weekend.
Among individual stocks, Asian Paints traded between ₹2,603.20 and ₹2,648.30 before closing at ₹2,598.60. Hindalco moved in a range of ₹1,089.30 to ₹1,110.90, settling at ₹1,085.50. Broader market movers included ITC at ₹303.30 and Power Grid Corporation at undisclosed levels, while LIC India closed at ₹804.75, up 0.19%.
GIFT Nifty tracked the domestic rally closely, opening Session II at 23,651.0 and climbing steadily through the afternoon. The offshore index surged from early lows of 23,613.0 to hit an intraday peak of 23,844.5, mirroring the sharp recovery in the Nifty 50 cash market. GIFT Nifty gained momentum in the 11:45-12:30 IST window, jumping from 23,676.5 to 23,793.5 as institutional buying intensified.
| GIFT NIFTY Session II | Level |
|---|---|
| Open | 23,651.0 |
| High | 23,844.5 |
| Low | 23,613.0 |
| LTP | 23,763.5 |
| Change | +98.0 (+0.41%) |
The offshore derivative maintained its premium to the cash market through most of the session, leading the upside between 12:15 and 14:15 IST when it touched session highs above 23,840. GIFT Nifty consolidated in the 23,760-23,820 band during the final hour, tracking the Nifty 50's late-session profit booking.
GIFT Nifty closed Session II at 23,763.5, up 98.0 points or 0.41%, positioning near the middle of its 231.5-point intraday range. The offshore index heads into the evening session with positive momentum, reflecting sustained buying interest in Indian equities amid improving global risk appetite.