• Source:JND
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Stock Market Rally Today: Domestic Equity benchmark indices-- Sensex and Nifty--- ended nearly 4 per cent higher on Wednesday, buoyed by a significant rally in global markets and a massive decline in crude oil prices after the US and Iran announced a two-week ceasefire.

Continuing its upward trend, the 30-stock BSE Sensex index jumped 2,946.32 points, or 3.95%, to close at 77,562.90. For the day, it gained 3,018.96 points, or 4%, to reach 77,635.54.

The 50-stock NSE Nifty index rose 873.70 points, or 3.78%, to finish at 23,997.35. During the session, it gained 901.5 points, or 3.89%, to close at 24,025.15.

Also Read: OMC Stocks Skyrocket On Sharp Decline In Crude Prices After US-Iran Ceasefire

Top Losers And Gainers

IndiGo, Mahindra & Mahindra, Larsen & Toubro, Bajaj Finance, Axis Bank and Maruti were the top gainers from the Sensex pack. On the other hand, Tech Mahindra, Sun Pharma and Power Grid settled in negative territory.

Crude Price Eases: At the time of writing, Brent crude was down 13.89 per cent to $94.09 per barrel.

International Markets Soars

Asian markets welcomed the ceasefire decision. South Korea's benchmark Kospi index jumped 6.87%, and Japan's Nikkei 225 index rose 5.39%. Meanwhile, the Shanghai Composite Index and Hong Kong's Hang Seng Index both traded in positive territory.

European markets saw strong gains in the early trading session.

RBI Keeps Repo Rate Unchanged

The Reserve Bank of India kept the repo rate unchanged at 5.5 per cent for the second consecutive session, adopting a cautious wait-and-watch stance amid uncertain geopolitical situations.

"The interim ceasefire is seen as a step toward broader regional stability. India benefits immediately from the reopening of the Hormuz Strait, which has pushed oil prices below USD 100 and reduced downside risks to FY27 EPS growth," said Vinod Nair, Head of Research, Geojit Investments Limited.

Also Read: FMCG Stock Under Rs 50 Breaks Losing Streak Amid Broad-Based Rally, Check Share Price History

Rupee Appreciates

The Indian currency appreciated 47 paise to close at 92.59 (provisional) against the US dollar on Wednesday after US President Donald Trump announced the suspension of military strikes against Iran for two weeks, and the Reserve Bank kept the key benchmark rate unchanged with a neutral stance.

According to Market Watch, the investor sentiment got a boost after Governor Sanjay Malhotra, during his monetary policy committee meeting adress assured that the steps taken on forex do not constitute a structural change.

(With Agencies Inputs)


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