Domestic equities in India rallied significantly, marking their best weekly performance in over five years, driven by a tentative ceasefire between the US and Iran. The benchmark Sensex closed at 77,550, up 919 points or 1.2%, while the Nifty ended at 24,051, gaining 276 points or 1.2% on Friday. For the week, the Sensex advanced 5.8% and the Nifty 5.9%, the highest since February 5, 2021. The total market capitalisation of BSE-listed companies rose by ₹6.4 trillion to ₹451.2 trillion ($4.87 trillion), reflecting a weekly increase of ₹28.9 trillion. Investor confidence improved as oil prices declined sharply, with Brent crude falling about 12% during the week to $93.67. However, concerns lingered due to ongoing tensions in the Middle East, including the closure of the Strait of Hormuz and exchanges of fire between Israel and Hezbollah. Analysts caution that while the relief rally may continue if oil prices fall further, significant declines are unlikely due to the persistent hostilities. Market breadth remained strong, with 3,325 stocks advancing against 986 declining. Foreign portfolio investors were net buyers worth ₹672 crore on Friday, although they remain net sellers for the month at ₹48,213 crore. The Nifty Smallcap and Midcap indices also saw gains of over 7.5% for the week, with all sectoral indices ending positively, particularly Nifty Realty and Financial Services.