Indian equities experienced a robust session on Wednesday, with the Nifty index climbing back above the 24,200 mark, bolstered by broad-based buying across sectors. The optimism stemmed from expectations of renewed negotiations between the US and Iran, which alleviated concerns about potential oil supply disruptions and contributed to a drop in crude prices. Analysts suggest that the Nifty's bias remains positive, especially if it maintains levels above the 24,250–24,300 resistance zone. A decisive break above this range could trigger a rally toward 24,750 to 24,800. The India VIX, a measure of market volatility, fell by 8.5%, indicating a decrease in market fear. Global markets mirrored this positive trend, with major U.S. indices like the S&P 500 and Nasdaq reaching record highs, supported by strong corporate earnings and easing geopolitical tensions. In the commodities market, oil prices fell as optimism regarding the US-Iran situation outweighed ongoing supply concerns, with Brent crude futures settling at $94.49 per barrel. Foreign portfolio investors showed confidence, net buying shares worth ₹666 crore on Wednesday, while domestic institutional investors also remained active.