Markets Rally Strong: Sensex Surges 1,264 Points, Nifty Jumps 1.6% on Easing Global Tensions

Mumbai: Indian equity markets witnessed a sharp rally on Wednesday, buoyed by improving global sentiment after signals of easing tensions between the US and Iran. Optimism grew after Donald Trump indicated that the conflict could be nearing a resolution, lifting investor confidence and risk appetite.

Benchmark indices ended the day with strong gains. The BSE Sensex jumped 1,264 points (1.64%) to close at 78,111.24, while the Nifty 50 surged 388.65 points (1.63%) to settle at 24,231.30.

Market experts noted that from a technical standpoint, the 24,300–24,400 range remains a critical resistance zone for Nifty. A decisive breakout above this level could pave the way for further upside towards 24,800–25,000. On the downside, immediate support is seen near 24,000, with a stronger base around 23,900–23,800 acting as a key demand zone.

The rally was broad-based, led by heavyweight stocks. Among the top gainers on the Nifty were InterGlobe Aviation, Max Healthcare Institute, Power Grid Corporation of India, and Eternal.

Broader markets outperformed the main indices, indicating strong participation across segments. The Nifty MidCap index rose 2.20%, while the Nifty SmallCap index advanced 2.35%, reflecting sustained buying interest beyond large-cap stocks.

Sectorally, construction-related stocks emerged as top performers, with the Nifty Construction Durable index leading the gains. IT and media stocks also saw robust buying, pointing to renewed confidence in growth-oriented sectors.

However, the rally was not uniform across all sectors. The Nifty PSU Bank index lagged behind, showing relative weakness in state-owned banking stocks. Meanwhile, thematic sectors such as capital markets, tourism, and railway PSUs outperformed, whereas rural-focused and CPSE indices underperformed.

Currency markets also reflected the positive sentiment. The Indian rupee strengthened slightly, trading near 93.36 against the US dollar. Analysts attributed this to easing crude oil prices following the second round of US–Iran talks, with oil slipping towards the $94–95 range. Lower crude prices are expected to reduce pressure on India’s import bill and provide short-term support to the currency.

Overall, the rally was driven by a combination of favorable global cues, cooling geopolitical tensions, and renewed investor optimism, triggering broad-based buying across the market.

With inputs from IANS