Indian benchmark equity indices closed sharply higher on Thursday, with the Sensex rising 579.48 points, or 0.75 per cent, to settle at 77,502.12 and the Nifty gaining 169.85 points, or 0.71 per cent, to close at 24,175.70, supported by a decline in global crude oil prices after encouraging signs emerged from trade talks between the United States and Iran, which lifted investor sentiment.
Commenting on the Nifty's technical outlook, experts said the index witnessed steady buying interest throughout the session and gradually advanced towards the 24,200 resistance zone.
"From a technical perspective, a sustained breakout above this band would reinforce bullish momentum and could pave the way for an advance towards the 24,400-24,450 region, where the 200-day EMA is positioned," a market expert said. "On the downside, the 24,000 psychological mark will likely act as the immediate support zone."
Technology stocks spearheaded the gains, with Infosys, Tech Mahindra and Tata Consultancy Services emerging as the top performers in the Nifty.
The rally helped the Nifty IT index record its biggest single-day gain since May 2025.
The broader market also remained positive, with the Nifty MidCap index ending 0.48 per cent higher and the Nifty SmallCap index outperforming with a 1.25 per cent gain.
Among sectoral indices, Nifty IT was the best performer, while Nifty Auto, Nifty Consumer Durables and Nifty Realty also posted solid gains as positive global cues and easing concerns over oil prices supported market sentiment.
"Easing energy prices and fresh India-Japan agreements in strategic areas such as AI, defence technology and energy security helped sustain domestic market optimism," as per the analyst.