In a dramatic turnaround, Indian equities witnessed their biggest single-day leap in months following the announcement of a US-Iran ceasefire. The benchmark Sensex catapulted by almost 3,000 points to 77,563.90, marking a 3.95% gain, as Nifty settled 3.78% higher at 23,997.35. The session was characterized by relentless buying across sectors, pushing the overall market capitalization up by a staggering 17 lakh crore rupees to 446 lakh crore.
Sectoral heavyweights stole the show. Realty index topped the charts with a 6.75% surge, closely trailed by autos at 6.69%. Financials, including private banks (5.56%) and services (5.54%), PSU banks (5.46%), durables (5.23%), and infra (4.13%), all posted impressive advances. Broad participation extended to midcaps and smallcaps, with Nifty Midcap 100 up 4.03% at 56,799.50 and Smallcap 100 gaining 4.39% to 16,538.05.
Not a single index dipped into the red, a rare feat reflecting overwhelming positivity. Sensex gainers dominated with IndiGo, L&T, Bajaj Finance, M&M, Axis Bank, Maruti Suzuki, UltraTech Cement, Titan, Bajaj Finserv, HDFC Bank, Adani Ports, ICICI Bank, Eternal, Kotak Mahindra Bank, Asian Paints, Tata Steel, and SBI leading the pack. Minor laggards were Tech Mahindra, Sun Pharma, and Power Grid.
The trigger? De-escalation in Middle East tensions slashed Brent crude by 14% to $94/barrel, alleviating inflation fears and boosting risk appetite. Ventura’s Vineet Bolingkar highlighted improved risk profiles and recommended largecaps with strong income streams for long-term bets.
As oil prices stabilize and global cues improve, this rally could herald a bullish phase for Indian markets. Investors should monitor oil dynamics and corporate earnings closely for sustained momentum.
