Sensex closes 940 points higher, Nifty jumps 24,300; IndiGo up 7%
The S&P BSE Sensex jumped 940.73 points to close at 77,958.52, while the NSE Nifty50 gained 298.15 points to end at 24,330.95.
Benchmark stock market indices closed higher on Wednesday as investor sentiment was buoyed by reports of the Iran-US reaching a truce soon. Banking stocks rallied over the government approving a credit guarantee scheme for businesses affected by the West Asia conflict.
The S&P BSE Sensex jumped 940.73 points to close at 77,958.52, while the NSE Nifty50 gained 298.15 points to end at 24,330.95.
Vinod Nair, Head of Research, Geojit Investments Limited, said that markets rallied on a risk-on sentiment, driven by easing US–Iran tensions and China’s diplomatic engagement, which helped contain crude prices, though the trend remains headline-sensitive.
"Global cues were further strengthened by strong AI-led tech earnings and large fund-raises, while yen-led dollar weakness aided EM flows. Domestically, favourable political cues, improving infra executions, and ECLGS 5.0 approval remain supportive, especially for MSME sectors," he added.
However, gains across financials, pharma, auto, and realty were partly led by short covering and tactical moves. With input cost pressures and FX risks still present, a selective investment approach is advisable.
Benchmark stock market indices closed higher on Wednesday as investor sentiment was buoyed by reports of the Iran-US reaching a truce soon. Banking stocks rallied over the government approving a credit guarantee scheme for businesses affected by the West Asia conflict.
The S&P BSE Sensex jumped 940.73 points to close at 77,958.52, while the NSE Nifty50 gained 298.15 points to end at 24,330.95.
Vinod Nair, Head of Research, Geojit Investments Limited, said that markets rallied on a risk-on sentiment, driven by easing US–Iran tensions and China’s diplomatic engagement, which helped contain crude prices, though the trend remains headline-sensitive.
"Global cues were further strengthened by strong AI-led tech earnings and large fund-raises, while yen-led dollar weakness aided EM flows. Domestically, favourable political cues, improving infra executions, and ECLGS 5.0 approval remain supportive, especially for MSME sectors," he added.
However, gains across financials, pharma, auto, and realty were partly led by short covering and tactical moves. With input cost pressures and FX risks still present, a selective investment approach is advisable.
