Mumbai, April 8: The Indian stock market experienced a significant surge during Wednesday’s trading session. By the end of the day, the Sensex rose by 2,946.32 points, or 3.95%, closing at 77,563.90. The Nifty also saw an increase of 873.70 points, or 3.78%, finishing at 23,997.35.
Broad-based gains were observed across the market, led by the real estate and auto sectors. The Nifty Realty index climbed by 6.75%, while the Nifty Auto index increased by 6.69%. Other notable gainers included the Nifty Private Bank (up 5.56%), Nifty Financial Services (up 5.54%), Nifty PSU Bank (up 5.46%), Nifty Consumer Durables (up 5.23%), and Nifty Infra (up 4.13%).
No index closed in the red. Strong gains were also recorded in both mid-cap and small-cap stocks. The Nifty Midcap 100 index rose by 2,198.95 points, or 4.03%, to reach 56,799.50, while the Nifty Smallcap 100 index increased by 694.75 points, or 4.39%, closing at 16,538.05.
Among the gainers in the Sensex pack were Indigo, L&T, Bajaj Finance, M&M, Axis Bank, Maruti Suzuki, UltraTech Cement, Titan, Bajaj Finserv, HDFC Bank, Adani Ports, ICICI Bank, ITC, Kotak Mahindra Bank, Asian Paints, Tata Steel, and SBI. Only Tech Mahindra, Sun Pharma, and Power Grid ended the day in the red.
The market rally resulted in a substantial increase in the market capitalization of all companies listed on the Bombay Stock Exchange (BSE), which rose by approximately ₹17 lakh crore to around ₹446 lakh crore, up from ₹429 lakh crore.
Vineet Bolinjkar, Head of Research at Ventura, stated that the ceasefire between the U.S. and Iran has improved risk sentiment, contributing to a decline in crude oil prices. He advised investors to include large-cap stocks with strong earnings in their portfolios.
Following the ceasefire announcement, crude oil prices fell, with Brent crude dropping nearly 14% to $94 per barrel.
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My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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