Mumbai, June 12 (IANS) Indian equity benchmarks rallied sharply on Friday, with the Sensex soaring nearly 1,700 points and the Nifty reclaiming the 23,600 mark, as investor sentiment improved on hopes of a potential peace agreement between the United States and Iran.

The Sensex closed at 75,527.95, gaining 1,695.40 points, or 2.30 per cent, from its previous close of 73,832.55. The 30-share index opened at 74,709.27 and touched an intra-day high of 75,608.02 before settling near the day’s peak.

The Nifty also ended strongly at 23,622.90, up 461.30 points, or 1.99 per cent. The index opened at 23,412.55 and climbed to an intra-day high of 23,645.35 during the session.

Commenting on Nifty technical outlook, experts said that a sustained move above 23,800 could further improve sentiment and pave the way toward the 24,000 psychological mark.

“On the downside, the 23,550–23,500 region is now expected to act as an important immediate support area, having transitioned from resistance to support following the breakout,” an analyst stated.

The rally came after US President Donald Trump said that Washington had reached a “great settlement” with Iran and that only the finalisation of the document remained.

The comments fuelled optimism in global markets, with investors betting that easing geopolitical tensions could stabilise energy supplies and reduce uncertainty.

Among Nifty constituents, Shriram Finance, Bajaj Finance and Larsen & Toubro emerged as the top gainers.

The broader market also witnessed robust gains. The Nifty MidCap index ended 2.43 per cent higher, while the Nifty SmallCap index advanced 2.8 per cent.

Sectorally, real estate and financial stocks led the upmove. The Nifty Realty and Nifty Financial Services indices surged more than 3 per cent each, outperforming other sectoral gauges.

In contrast, the Nifty IT index lagged the broader market and emerged as the weakest-performing sector during the session.

–IANS

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