May 22: Indian stock markets closed modestly higher on Friday as investor sentiment improved amid expectations of a possible agreement between the United States and Iran. Hopes of easing geopolitical tensions in the Middle East, along with softer crude oil prices, supported the upward movement in equities.
The BSE Sensex gained nearly 300 points during the session, while the NSE Nifty moved above the 23,700 level. Banking and financial stocks remained the key drivers of the rally, helping benchmark indices stay in positive territory.
Market participants viewed the decline in oil prices as a favorable sign for India’s economy, as lower energy costs could help contain inflation and reduce pressure on imports. However, gains remained limited due to caution over global economic uncertainty and foreign investor activity.
Among sectors, banking shares attracted strong buying interest, whereas media and real estate stocks witnessed some selling pressure. Analysts believe markets may continue to witness short-term volatility as investors closely monitor international developments and upcoming economic indicators.