MUMBAI: Indian equity markets opened on a strong note on Wednesday, with both benchmark indices rallying sharply amid easing geopolitical concerns after signals of a possible de-escalation in tensions between the United States and Iran.
Investor sentiment improved after US President Donald Trump indicated that the conflict with Iran could be nearing its end, raising hopes of stability in global markets.
During early trade, the Nifty surged 1.61 per cent, or 392.75 points, to trade at 24, 237.70. The Sensex also climbed 1.70 per cent, or 1, 303 points, to 78, 150.54.
Commenting on Nifty technical outlook, market experts said that the immediate support is seen at 23, 900–24, 000, while resistance is placed at 24, 250–24, 300.
Market volatility cooled significantly, with the Nifty India Volatility Index dropping 15.4 per cent to 17.34 soon after the opening bell.