Benchmark stock market indices surged on Wednesday, buoyed by positive global market sentiment following reports of renewed talks between the US and Iran. The S&P BSE Sensex soared by 1,263.67 points to close at 78,111.24, while the NSE Nifty50 climbed 38.65 points to finish at 24,231.30.
Vinod Nair, Head of Research at Geojit Investments Limited, attributed the market optimism to the potential US-Iran dialogue, which drove oil prices below USD 100 as hopes for negotiations overshadowed concerns of supply disruptions. Despite a cautious Q4 outlook, investors found encouragement in attractive valuations and a promising FY27 earnings outlook, suggesting the ongoing rally may maintain its momentum in the short run.
Post-market closing, InterGlobe Aviation Ltd led the Sensex gainers with a 4.63% increase, followed by Eternal Ltd rising by 4.36%. Power Grid Corporation of India Ltd surged by 4.11%, Tech Mahindra Ltd added 3.33%, and Tata Consultancy Services Ltd closed higher, up by 3.31%.
On the flip side, Bharti Airtel Ltd witnessed the steepest decline, falling by 0.64%, while ICICI Bank Ltd dipped by 0.20% at the close. Nair highlighted that the decrease in India’s 10-year bond yield and a drop in India VIX indicated stability. Sector-wise, robust demand expectations drove gains in the Power and Consumer Durables indices, while improved global risk sentiment boosted the performance of the IT index.
(Note: The opinions expressed in this article are solely those of the individual experts and brokerages and do not represent the views of the India Today Group. It is advisable to seek advice from a qualified broker or financial advisor before making investment decisions.)
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