Nifty Closes Above 24,550, Sensex Rises 750 Points on Optimism Over US–Iran Diplomatic Talks

Indian Benchmark Indices End Higher for Third Consecutive Session

Indian benchmark indices, the Sensex and Nifty, ended higher on April 21, supported by broad-based buying across sectors. The rally was boosted by hopes of a resolution to the ongoing conflict between the U.S. and Iran, following reports of a second round of talks between the two nations.

At close, the Sensex was up 753.03 points or 0.96 percent at 79,273.33, while the Nifty was up 211.75 points or 0.87 percent at 24,576.60. This marks the third consecutive session of gains for the Indian benchmark indices.

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Broader indices also ended higher, with the Nifty Midcap index up 0.5 percent and the smallcap index rising nearly 1 percent. The biggest Nifty gainers were Nestle India, HUL, Trent, ICICI Bank, Bajaj Finance, while losers were SBI Life Insurance, Bharat Electronics, Jio Financial, Dr Reddy's Labs, and Titan Company.

More than 140 stocks touched their 52-week high on the BSE, including Bank of Maharashtra, AU Small Finance Bank, Data Patterns, Syrma SGS, SAIL, Hitachi Energy, Welspun Corp, JSW Energy, Adani Ports, Lloyds Metals, CG Power, Siemens, JSW Steel, Apar Industries, Schneider Infra, Cummins, NTPC, Vedanta, Jindal Steel, NMDC, among others.

In stock-specific action, PNB Housing Finance shares jumped more than 8 percent after the company reported a 14 percent rise in Q4 standalone profit, while Nelco shares gained 6 percent after posting a profit for the quarter. Billionbrains Garage Ventures (Groww) shares rallied 8 percent after the company's Q4 net profit more than doubled. However, SML Mahindra shares slipped 7 percent despite reporting better earnings, and Indosolar shares declined 5 percent as Q4 revenue fell 56 percent.

Market Outlook for April 22

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Experts predict that the benchmark index Nifty will face a crucial hurdle at the 100-day EMA zone of 24660-24700. A sustained move above 24700 could trigger further upside towards 24950, while the 24460-24430 zone is expected to act as immediate support. Small caps are expected to outperform broader indices in the near term, with investors remaining focused on corporate earnings and monitoring developments in the U.S.-Iran conflict and trends in the rupee and crude oil prices.