The benchmark equity indices Sensex and Nifty witnessed a sharp rally as a steep fall in crude oil prices and optimism surrounding a potential US–Iran agreement revived risk appetite across global markets. Supported by improving sentiment, the Sensex surged 1.42 per cent, the Nifty gained more than 1.3 per cent, while India VIX declined nearly 7 per cent. The 30-share BSE Sensex jumped 1073.61 points, or 1.42 per cent, to close at 76,488.96. The index opened higher and rose to a high of 76,559.07 during the day. The 50-share NSE Nifty climbed 312.40 points, or 1.32 per cent, to reclaim the 24,000 mark and finished at 24,031.70.
What triggered the rally?
According to experts, the biggest driver of today’s bullish momentum was growing optimism about a possible de-escalation in the US-Iran conflict.
“Markets reacted positively to expectations that the Strait of Hormuz – a critical global energy transit route handling nearly one-fifth of worldwide oil and LNG shipments – could avoid prolonged disruption. This sharply reduced immediate fears around energy supply shocks and helped cool global crude oil prices,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
The rally was largely led by heavyweight financials, autos and infrastructure-linked stocks, while continued participation in mid- and small-cap counters further strengthened overall market breadth.
Biggest gainers, losers
Among Sensex firms, Bajaj Finance emerged as the biggest gainer, rallying around 2.80 per cent. Larsen & Toubro, HDFC Bank, Eternal and Bajaj Finserv were among the other gainers.
On the other hand, Infosys, Tata Consultancy Services, Sun Pharma and Hindustan Unilever ended lower.
The BSE SmallCap Select index rose 1.18 per cent, and the MidCap Select index gained 0.92 per cent.
Among the sectoral indices, Nifty PSU Bank rose the most by 2.90, followed by Financial Services, Healthcare, Private Bank, Auto and Realty.
A total of 2,271 stocks advanced, while 1,046 declined and 102 remained unchanged on the NSE.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
