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Indian equity markets stayed in the green during mid-morning trade on Friday, with the BSE Sensex rising over 300 points as easing geopolitical tensions in the Middle East provided a much-needed tailwind for global risk assets.

As of 10:30 AM IST, the BSE Sensex was trading at 78,320.10, up by 331 points or 0.43%. NSE Nifty 50 gained 76 points or 0.31% to trade at 24,272.95, holding comfortably above the psychological support level of 24,250. The recovery follows a period of intense volatility, as investors reacted positively to reports of a 10-day ceasefire and the prospect of a renewed diplomatic dialogue between the US and Iran.

Geopolitical Thaw and Crude Impact

The primary reason for Friday's rally is the perceived de-escalation of conflict in West Asia. The move has led to a de-risking phase across global markets. This was immediately visible in the energy markets, where Brent Crude futures softened to approximately $98.17 per barrel, which is a drop of 1.23%. For an oil-importing economy like India, the dip in crude prices acts as a natural buffer against inflation and improves the fiscal outlook. Hence, providing a direct boost to sectors sensitive to input costs.

FMCG and Auto Drive Mid-Morning Gains

The market breadth remained positive, with several heavyweights anchoring the indices. Leading the pack was Hindustan Unilever (HUL), which surged 3.04% to ₹2,204.20 on expectations of margin expansion. In the auto space, Maruti Suzuki climbed 2.07% to reach ₹13,611.00, while Tata Consumer Products rose 1.99% to ₹1,124.50. Retail powerhouse Trent Ltd continued its upward trajectory, gaining 1.73% to trade at ₹4,153.90. It was followed closely by Adani Ports, which moved up 1.61% to ₹1,574.70. Other notable gainers contributing to the 24,250-plus Nifty level included Power Grid and Nestle India, both trading nearly 1.30% higher.

Laggards and Sectoral Pressure

Despite the overarching bullish sentiment, certain pockets faced profit-taking and sectoral headwinds. HDFC Life Insurance emerged as the top laggard and tumbled 3.24% to ₹611.05 as investors reacted to cautious Q4 earnings projections. The IT sector also saw selective selling, with Wipro sliding 2.82% to ₹204.33 ahead of its full-year guidance. Other stocks trading in the red included Hindalco, which dipped 0.94%, and ICICI Bank, which saw a marginal decline of 0.69%.

Nifty 50 is currently testing immediate resistance at the 24,350 mark. The index appears to have formed a solid base around the 24,150 zone; a sustained hold above 24,300 on a closing basis could trigger a move toward 24,500 by early next week. In the broader market, the Nifty Midcap 100 and Smallcap 100 indices outperformed the benchmarks, gaining roughly 0.65% each. This shows robust domestic retail participation and an appetite for mid-tier stocks as global macro concerns begin to fade.