Indian benchmark indices the Sensex (the Bombay Stock Exchange's 30-share index) and Nifty rose nearly 1% on Friday, with the Sensex gaining around 505 points to close at 78,493. Analysts attributed the gains to improved global risk appetite following renewed hopes of a U.S.-Iran diplomatic breakthrough and a 10-day ceasefire between Israel and Lebanon. The rally was further supported by fresh inflows from foreign institutional investors, signalling renewed confidence in emerging markets.