Indian stock markets saw a positive turn on Tuesday, with the NSE's Nifty gaining 211 points (0.9%) to close at 24,576 and the BSE's Sensex climbing 753 points (1%) to 79,273. This rally was attributed to traders covering short positions amid rising hopes for de-escalation in the US-Iran conflict, coinciding with the second round of peace talks set to begin soon. Pankaj Pandey, head of fundamental research at ICICI Direct, noted that traders were encouraged by a reduction in foreign institutional selling, which amounted to ₹1,919 crore on Tuesday, while domestic institutions purchased shares worth ₹2,221 crore. Despite a net sale of ₹44,275 crore by foreign investors in April, the market sentiment remained cautiously optimistic. The India Volatility Index (VIX) dropped 6.7% to 17.53, reflecting traders' expectations for successful negotiations. Technical analysts predict the Nifty could reach the 24,800-25,000 range if it maintains above 24,250. Overall, the broader market indices also saw gains, with Nifty Midcap 150 up 0.5% and Nifty Small-cap 250 rising 0.8%.