Mumbai, April 21 (NationPress) The Indian stock markets experienced an upward trend in early trading on Tuesday, buoyed by optimism surrounding potential peace negotiations between the United States and Iran and a drop in crude oil prices.

Sensex increased by 0.56 percent, gaining 445 points to reach an intraday peak of 78,966, while Nifty advanced by 0.48 percent or 118 points to 24,483, driven by robust buying in sectors including real estate, banking, metals, consumer durables, and chemicals.

Among the sectors, Nifty Realty, Nifty Private Bank, Nifty Metal, Nifty Consumer Durables, Nifty PSU Bank, Nifty Chemicals, and Nifty FMCG saw increases of 1.88 percent, 1 percent, 0.93 percent, 0.73 percent, 0.65 percent, 0.62 percent, and 0.60 percent, respectively.

On the flip side, stocks such as SBI Life, HDFC Life, Infosys, Dr. Reddy's Laboratories, BEL, Tech Mahindra, Max Healthcare, TCS, Cipla, and Eicher Motors were noted as the biggest laggards in early trading.

The broader market also witnessed positive sentiment, with small-cap and mid-cap indices performing notably well.

This positive trend was supported by reports indicating that Iran might participate in peace talks with the US in Pakistan, as Islamabad makes efforts to lift a blockade on Iranian ports.

On Monday, foreign institutional investors (FIIs) were net sellers, offloading equities worth Rs 1,059.93 crore, whereas domestic institutional investors (DIIs) emerged as net buyers with inflows of Rs 2,966.89 crore.

Market analysts indicate a mildly optimistic to range-bound session ahead.

"However, the notable increase in volatility, alongside FII selling and persistent consolidation near resistance levels, suggests that profit-taking or sideways movement could occur," they expressed.

In commodity trading, Brent crude futures dipped 0.93 percent to $94.59 per barrel, while US West Texas Intermediate (WTI) fell 2.19 percent to $85.50.

In global markets, Wall Street concluded slightly lower, as major indices softened after achieving their third consecutive weekly gains, with renewed tensions between the US and Iran casting uncertainty over the sustainability of a two-week ceasefire.

The S&P 500 slipped by 16.92 points, or 0.24 percent, to 7,109.14, while the Nasdaq decreased by 64.09 points, or 0.26 percent, to 24,404.39.

Asian markets displayed mixed results, with the Nikkei, Hang Seng, and KOSPI gaining up to 2 percent, while the Jakarta Composite and Shanghai Composite dropped by up to 1 percent.