April 17 (Reuters) - Indian shares rose on Friday, logging a second straight weekly gain as lower oil prices and hopes of U.S.-Iran talks lifted sentiment.
The Nifty 50 rose 0.65% to 24,353.55, while the Sensex added 0.65% to 78,493.54.
Both benchmarks gained about 1.3% each this week, extending last week's 6% surge, their strongest showing in five years.
"After the roller-coaster moves in March, domestic markets are beginning to find their footing in April on expectations that tensions in the Middle East may ease," said Kranthi Bathini, director of equity strategy at WealthMills Securities.
A 10-day ceasefire between Lebanon and Israel went into effect on Thursday and President Donald Trump said the next U.S.-Iran meeting may take place over the weekend.
Other Asian markets posted weekly gains ahead of the peace talks that could pave the way for an end to the war. [MKTS/GLOB]
"While markets are not completely out of the woods, any tangible signs of de-escalation or a peace framework from the U.S.-Iran talks could sustain momentum," said Bathini.
Back home, 15 of 16 major sectors advanced this week. The broader small-caps and mid-caps added 4.3% and 3.6%, respectively.
Energy gained 4.6%, led by oil marketing companies as crude prices stayed below $100 per barrel, a supporting trend for India, the world's third-largest oil importer.
Metals rose 4.2%, buoyed by aluminium producers on firmer metal prices, driven by supply concerns tied to the Iran conflict and resilient demand.
On the day, Wipro fell 2.8% after it posted lackluster quarterly results and forecast muted demand for the first quarter.
HDFC Life shed 2.4% after reporting a fall in quarterly new business value on Thursday.
Quarterly results of index heavyweights HDFC Bank and ICICI Bank, due over the weekend, will also influence near-term market trajectory, according to two analysts.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sonia Cheema and Mrigank Dhaniwala)
By Bharath Rajeswaran and Vivek Kumar M
