On Thursday, Indian equity markets faced volatility, with the Nifty 50 index falling 34.55 points to close at 24,196.75, dipping below the 24,200 mark. The S&P BSE Sensex also saw a decline, dropping 122.56 points to 77,988.68. Early optimism was driven by positive global cues regarding a potential US-Iran peace deal, but selling pressure from private banks and auto stocks reversed initial gains. Notably, HDFC Bank, Mahindra & Mahindra, and Bharti Airtel were among the major laggards. Despite this, the broader market outperformed, with the BSE MidCap Index rising 0.52% and the BSE SmallCap Index increasing 0.99%. The market breadth remained strong, with 2,808 shares advancing against 1,539 shares declining. The elevated volatility was attributed to the weekly expiry of derivatives and the ongoing Q4 earnings season. In the global arena, European indices advanced, buoyed by stronger-than-expected economic data from the UK and revised Eurozone inflation figures. Asian markets also showed positive trends, with Japan's Nikkei 225 hitting a record high amid optimism surrounding geopolitical developments.