The Indian stock market traded with strong gains on Tuesday, following mixed global market cues, as investors remained cautiously optimistic about the US-Iran peace talks. The Sensex jumped over 700 points to scale above 79,000 level, while the Nifty 50 surged 0.7% to rise above the crucial 24,500 level ahead of the weekly F&O expiry. Bank Nifty index outperformed, gaining over 1%. Broader markets supported the rally, as the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained nearly a percent each. All the sectoral indices were trading in the green, led by Nifty Realty, Nifty Private Banks, Nifty Auto, Nifty PSU Banks, Nifty Metals and Nifty FMCG. Globally, Asian markets traded higher amid hopes of peace talks between US and Iran, while the US stock market ended marginally lower. US Vice President JD Vance will travel to Pakistan on Tuesday for Iran talks, reports said. Tehran’s own negotiators received a last-minute green light from Iran’s supreme leader to attend the talks, Axios reported.

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