Mumbai (Maharashtra) [India], April 21 (ANI): The domestic equity markets closed on a strong note on Tuesday, recovering from a slow start, as gains in FMCG stocks lifted the benchmark indices amid cautious optimism around ongoing geopolitical developments.

The NSE Nifty 50 index ended at 24,576.60, rising by 211.75 points or 0.87 per cent, while the BSE Sensex closed at 79,273.33, gaining 753.03 points or 0.96 per cent.

Market participants remained watchful of global cues, particularly the expected second round of talks between the United States and Iran in Pakistan, which is anticipated to take place later in the day.

Experts noted that investor sentiment was supported by expectations of a possible near-term de-escalation in tensions in the Middle East.

Ponmudi R, CEO of Enrich Money, said, 'Indian equity markets traded on a positive note, as investors positioned for a potential near-term de-escalation in the Middle East. The Nifty maintained a steady upward bias through the session, closing higher by around 0.8 per cent.'

He added that energy markets remain in a consolidation phase as traders weigh hopes of a resolution against ongoing uncertainty regarding ceasefire negotiations.

'The session reflects a market cautiously leaning into the possibility of a diplomatic breakthrough, with broad-based gains and improving global sentiment pointing to a gradual unwinding of the war-risk premium,' he said, adding that the outcome of the upcoming talks will be crucial for future market direction.

On the sectoral front, most indices on the NSE closed in positive territory. Nifty FMCG surged more than 2 per cent, leading the rally, while Nifty Realty gained 2.11 per cent. Nifty IT rose 0.53 per cent and Nifty Auto increased by 0.36 per cent to 26,616.

However, Nifty Metal and Nifty Pharma were the only sectors that ended the session in the red.

In the commodities market, Brent crude prices remained elevated, trading above USD 90 per barrel and currently at around USD 95 per barrel, amid uncertainty linked to the geopolitical situation and the upcoming US-Iran talks.

According to reports, delegations from the United States and Iran are expected to arrive in Pakistan for discussions, signalling a potential diplomatic breakthrough. However, uncertainty persists as US President Donald Trump recently warned of severe repercussions, including potential attacks on Iranian energy and civil infrastructure, if a deal is not reached.

Asian markets also closed higher, reflecting positive global sentiment. Japan's Nikkei 225 rose 0.94 per cent to 59,385, while Singapore's Straits Times gained 0.22 per cent to 5,014. Hong Kong's Hang Seng index increased 0.62 per cent to 26,525, Taiwan's Weighted index surged 1.72 per cent to 37,605, and South Korea's Kospi jumped 2.65 per cent to 6,388. (ANI)