Mumbai, April 16: Signs of easing tensions between the United States and Iran have led to a significant surge in the Indian stock market on Thursday. The Sensex opened with an increase of 566.32 points, or 0.73%, reaching 78,677.56, while the Nifty rose by 153.90 points, or 0.64%, to stand at 24,385.20.
The rally was primarily driven by gains in the real estate and metal sectors. Consequently, the Nifty Realty and Nifty Metal indices emerged as the top gainers. Almost all indices, including Nifty India Defense, Nifty Consumer Durables, Nifty Financial Services, Nifty PSU Bank, Nifty Services, and Nifty Private Bank, were in the green.
Both mid-cap and small-cap stocks also experienced upward momentum. The Nifty Midcap 100 index surged by 515.80 points, or 0.88%, to reach 59,293.55, while the Nifty Smallcap 100 index climbed by 187.95 points, or 1.10%, to settle at 17,344.35.
Notable gainers in the Sensex pack included Eternal, Bajaj Finance, Infosys, Tech Mahindra, L&T, TCS, Trent, BEL, Bajaj Finserv, HCL Tech, Tata Steel, ICICI Bank, Asian Paints, M&M, SBI, HDFC Bank, Axis Bank, NTPC, Adani Ports, ITC, Bharti Airtel, Kotak Mahindra Bank, and HUL. Only Sun Pharma and Titan were in the losing category.
Market optimism is attributed to the reduction of tensions between the US and Iran. According to US media reports, progress has been made between both parties, although some differences remain.
In another development, US President Donald Trump claimed that leaders from Israel and Lebanon may engage in talks on Thursday, potentially paving the way for broader peace worldwide.
Asian markets also continued to show positive trends, with Tokyo, Seoul, Hong Kong, and Shanghai all in the green. However, US markets closed mixed on Wednesday, with the Dow Jones experiencing a slight decline of 0.15%, while the technology index Nasdaq surged by 1.59%.
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