Sensex jumps over 1,300 points, Nifty tops 24,200 as US–Iran talk hopes lift markets
Indian markets surged in early trade, with the Sensex jumping over 1,300 points and the Nifty crossing 24,200, tracking global gains as easing oil prices and renewed US–Iran talk hopes lifted investor sentiment
Indian equity benchmarks surged sharply in early trade on Wednesday, tracking a global relief rally, as easing crude oil prices and renewed hopes of diplomatic talks between the United States and Iran boosted investor sentiment.
The 30-share BSE Sensex jumped 1,318.93 points, or 1.72 per cent, to 78,166.50 in early deals, after opening higher at 77,981.10. The index held near day’s highs, reflecting broad-based buying across sectors.
The broader Nifty 50 rose 383 points, or 1.61 per cent, to 24,225.65, with 46 of its constituents advancing, indicating strong market breadth.
Oil relief, global cues drive rally
The rally comes after global equities gained overnight, while oil prices slipped below the $100-per-barrel mark amid rising expectations of renewed talks between Washington and Tehran. Lower crude prices are seen as positive for India, the world’s third-largest oil importer, as they ease inflation and fiscal pressures.
More from BusinessAsian markets advanced about 1.7 per cent, mirroring gains on Wall Street, after comments from US President Donald Trump that talks with Iran could resume soon. Markets are increasingly pricing in a potential de-escalation of tensions in West Asia.
Broad-based buying across sectors
Gains were widespread across index heavyweights and cyclical stocks, signalling improved risk appetite among investors.
Banking majors such as HDFC Bank, SBI, Axis Bank and Kotak Mahindra Bank also advanced around 1–2 per cent, lending support to the indices.
Reliance Industries, ITC, Bharti Airtel and NTPC traded in the green, contributing to the broader upmove.
Market recovery after recent weakness
The sharp rally comes after a period of volatility triggered by geopolitical tensions in West Asia.
Since the outbreak of the conflict in late February, both the Sensex and Nifty had fallen more than 5 per cent, weighed down by surging crude prices and foreign investor outflows.
Foreign portfolio investors have sold Indian equities heavily in recent weeks, reflecting risk aversion amid global uncertainty.
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