On May 6, Indian stock markets experienced strong gains, with the Nifty 50 rising 1.24% to close at 24,330 and the S&P BSE Sensex increasing 1.22% to 77,958. This positive momentum was driven by reports indicating that the US and Iran are nearing a peace agreement to resolve their ongoing conflict, which has lasted over 60 days. The broader market also performed well, with both the Nifty Midcap 100 and Nifty Smallcap indices rallying nearly 2%. Notably, mid-cap technology stocks attracted significant buying, with Coforge surging 9.3% and HFCL hitting a 19-month high after a 10% increase. Other gainers included Tata Motors and Vodafone Idea, which rose 4.5% following the reappointment of Kumar Mangalam Birla as non-executive chairman. Conversely, Oil India and Schneider Electric were among the top losers, each seeing declines of over 5%. Overall, the market sentiment remains optimistic as geopolitical tensions appear to be easing.