MUMBAI: Indian stock markets ended the session on a strong note, with benchmark indices closing near their day’s highest levels, supported by gains in auto and banking stocks.
Positive sentiment among investors was also driven by hopes of easing geopolitical tensions between the United States and Iran, despite mixed signals from both sides.
The Nifty rose sharply by 399.75 points, or 1.78 per cent, to settle at 22, 912.40. The Sensex also posted solid gains, climbing 1, 372.06 points, or 1.89 per cent, to close at 74, 068.45.
Experts said that from a technical standpoint, the Nifty is showing early signs of a short-term recovery, supported by easing geopolitical pressures and a gap-up opening.
"On the downside, 22, 700 now acts as an immediate support backed by OI build-up, while the 22, 500–22, 600 zone continues to be a critical demand area where buying interest is expected to emerge, " an analyst stated.