Benchmark indices Sensex and Nifty ended the trading session with significant gains amid strong buying across sectors on the US-Iran peace negotiations and confirmation of the reopening of the Strait of Hormuz. The 30-share BSE Sensex surged 736.38 points or 0.97 per cent at 76,236.38. During the day, it hit a high of 76,821.07 and a low of 76,140.44, gyrating 680.63 points. The 50-share NSE Nifty jumped 231 points or 0.98 per cent to settle at 23,853.9. Broader markets overperformed, with the BSE Midcap Select Index climbing 288.15 points or 1.66 per cent and the BSE Smallcap Select Index declining around 16.28 points or 0.27 per cent.
Meanwhile, the Indian rupee strengthened as a de-escalation in geopolitical tensions dragged both crude oil prices and the greenback lower.
Top gainers and losers
Among the 30-Sensex firms, Trent, Indigo, Bajaj Finance, UltraTech Cement, and Eternal were the major winners. Shares of Trent closed with a gain of 5.35 per cent today. On the flip side, the shares of NTPC, ICICI Bank, Hindustan Unilever, Adani Ports and Sun Pharma were among the laggards. The shares of NTPC closed with a dip of 1,64 per cent today.
On Monday, out of the 30 Sensex companies, shares of only 22 closed in the green, while the remaining 4 closed in the red. On the other hand, out of the 50 companies in the Nifty 50, shares of only 34 companies closed in green with gains, while the remaining 16 closed in red with losses.
Equity markets world over, including India, received a major boost amid talks of a likely end to the US-Iran conflict, which culminated in a further drop in international crude oil prices. In Asian markets, South Korea’s Kospi jumped over 5 per cent, while Japan’s Nikkei 225 index climbed nearly 5 per cent. Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index also ended higher.
“Local investors cheered the sharp fall in crude prices and the rupee’s recovery against the dollar, resulting in renewed optimism in equity assets. Investors are hoping that FIIs will soon return to India’s equity markets amid positive signals of a likely end to the war and receding oil prices, said Ankur Punj, MD & Business Head at Equirus Wealth.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
