Markets Rally Early: Sensex, Nifty Jump on Easing Tensions and Poll Trends

Mumbai — Indian stock markets opened the week on a strong footing, with both benchmark indices gaining around 1 per cent in early trade. The rally was supported by softer crude oil prices and signs of easing geopolitical tensions in West Asia, along with early trends from key Assembly elections.

The BSE Sensex climbed over 800 points, touching an intraday high of 77,746.79, while the Nifty 50 rose by about 250 points to reach 24,245.85.

Broad-based buying was seen across sectors such as auto, realty, metals, FMCG, and energy, with sectoral indices posting gains of up to 2 per cent. However, some heavyweight stocks—including Kotak Mahindra Bank, Dr Reddy’s Laboratories, TCS, ITC, and Bharti Airtel—faced selling pressure.

On the global front, remarks by Donald Trump about facilitating safe passage for vessels in the Strait of Hormuz helped ease concerns over supply disruptions, pulling crude oil prices lower. Meanwhile, Iran indicated it is reviewing a US response to its peace proposal, hinting at possible diplomatic movement.

Back home, market sentiment is also being influenced by counting trends from Assembly elections in states like Tamil Nadu and West Bengal, which could drive short-term volatility.

Brent crude slipped to around $107.51 per barrel, while US West Texas Intermediate (WTI) dropped to about $99.11, easing inflationary concerns and supporting equities.

Across Asia, markets remained upbeat, with indices like Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI registering gains of up to 4 per cent, reflecting a positive global risk sentiment.

With inputs from IANS