Market Update

The Indian stock market ended Friday's choppy trade higher amid fag-end buying, with the benchmark Sensex rising above the 78,000 level, and the Nifty 50 scaling the 24,200 mark. The gains in the domestic equity market followed positive global cues amid signs of de-escalation in the Middle East conflict. Investor risk appetite improved amid reports that Pakistan has begun preparations to host the second round of high-stakes talks between the US and Iran next week, aimed at a landmark peace deal to end the war in West Asia. Moreover, the reports of a ceasefire between Israel and Lebanon also bode well for the market. Despite the positive undertone, the Nifty 50 continues to face stiff resistance in the 24,400–24,500 zone. The index has repeatedly failed to sustain gains above this level, having touched 24,400 in the previous session before retreating. In Friday’s session, too, it pared early gains after hitting an intraday high of 24,358.25.