The Indian stock market closed Monday’s session with healthy gains as progress in US-Iran peace talks, strong buying in pharmaceutical stocks, and a sharp recovery in domestic technology shares helped the benchmark indices recover a portion of Friday’s losses.
The Nifty 50 ended the session 0.37% higher at 24,102, holding above the 24,000 mark for the fourth consecutive session. The Sensex closed at 77,044, up 0.31% from its previous close.
The broader markets also finished in positive territory, with the Nifty Midcap 100 and Nifty Smallcap 100 indices ending higher. Among sectoral indices, Nifty Media led the gains with a 1.42% rise, followed by Nifty Pharma, Nifty Oil & Gas, Nifty IT, and Nifty Metal, which advanced between 0.5% and 1.4%.
In the commodity market, crude oil prices retreated following reports that the US and Iran had agreed on a roadmap aimed at reaching a final peace agreement within 60 days. The proposed framework includes the formation of a committee and a mechanism to help end hostilities in Lebanon.
“Encouraging progress has been made, including the creation of a mechanism for further technical talks,” mediators Qatar and Pakistan said in a joint statement.
However, the conflict in Lebanon remains one of the key sticking points. The latest developments followed a mixed start to the talks on Sunday, after media reports suggested that Iran had paused discussions following renewed warnings from US President Donald Trump of potential military action if Hezbollah continued attacks on Israel.
The two sides have agreed to establish a “de-confliction cell” involving the concerned parties and Lebanon to help ensure compliance with the cessation of military operations, according to the mediators.
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