Indian equity markets extended their winning streak on Thursday as investors responded positively to global developments, particularly the easing of geopolitical tensions in the Middle East. The benchmark BSE Sensex gained 254.36 points to close at 77,409.98, while the NSE Nifty settled comfortably above the key 24,000-mark, reflecting sustained investor confidence.

The latest gains came after reports confirmed that the United States and Iran had signed a memorandum aimed at ending the recent conflict between the two nations. The development has been closely watched by global financial markets because of its potential impact on energy supplies and inflation trends worldwide.

According to market participants, the decline in crude oil prices played a significant role in supporting investor sentiment. Lower oil prices are generally viewed as beneficial for the Indian economy, which relies heavily on crude imports. Reduced energy costs can help contain inflation, improve corporate profitability, and ease pressure on the country's trade balance.

Oil Prices Ease

Global crude oil prices witnessed a sharp correction following the peace agreement. Brent crude, the international benchmark, slipped to around $77 per barrel, marking its lowest level in more than three months. Market data indicates that oil prices have fallen significantly from the highs recorded during the peak of the Iran conflict.

The agreement was signed by Iranian President Masoud Pezeshkian after US President Donald Trump formally endorsed the framework in Versailles, France. Reports suggest that investors interpreted the development as a major step toward restoring stability in global energy markets.

The decline in crude prices also helped offset concerns arising from weakness in certain sectors of the domestic market. Analysts believe that if oil prices remain under control, sectors dependent on fuel and transportation costs could see improved earnings prospects in the coming quarters.

Mixed Sector Performance

Despite the overall gains in benchmark indices, sectoral performance remained mixed. Information Technology stocks emerged as the weakest segment of the market, witnessing notable selling pressure during the session. Consumer Durables and Oil & Gas shares also traded in negative territory.

On the other hand, media-related stocks recorded strong gains, helping support broader market sentiment. Other sectors displayed selective buying as investors shifted their focus toward companies expected to benefit from improving economic conditions.

Asian markets delivered mixed signals. South Korea's KOSPI and Japan's Nikkei posted gains, while Hong Kong's Hang Seng index ended lower. Meanwhile, US markets had closed in negative territory during the previous session, with the Dow Jones, Nasdaq, and S&P 500 all recording losses.

Foreign institutional investors continued to remain cautious. Data showed that foreign investors have been net sellers over the past week, while domestic institutional investors maintained their buying momentum. Market experts believe strong domestic participation has helped offset foreign outflows and provided stability to Indian equities.

The Indian currency also faced pressure during the day. The rupee weakened by 21 paise and settled at 94.71 against the US dollar. Currency traders attributed the decline to global dollar strength and ongoing volatility in international markets.

Looking ahead, investors are expected to closely monitor crude oil movements, global economic developments, and institutional investment flows. Market participants will also keep an eye on upcoming corporate earnings and macroeconomic indicators that could influence trading direction in the near term.

With the Indian stock market recording gains for five consecutive sessions, attention will now shift to whether benchmark indices can sustain their momentum amid evolving global and domestic factors.