Sensex and Nifty Surge Over 2% Amid Global Optimism
Mumbai, March 25 – The benchmark indices Sensex and Nifty recorded significant gains on Wednesday, rising by over 2%. The upward trend was fueled by a decline in crude oil prices and positive momentum in Asian markets, driven by hopes of de-escalation in the West Asia conflict.The 30-share BSE Sensex climbed 1,667.14 points, representing a 2.25% increase, closing at 75,735.59. The 50-share NSE Nifty rose 522.35 points, marking a 2.27% gain and ending the day at 23,434.75.
Among the top gainers on the Sensex, Titan, Mahindra & Mahindra, Trent, UltraTech Cement, HDFC Bank, and Bajaj Finance saw notable increases. Tech Mahindra was the sole laggard during the trading session.
Brent crude, the global oil benchmark, experienced a 4.07% decrease, settling at USD 100.2 per barrel.
Asian markets also contributed to the positive sentiment. South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index all traded in positive territory. The US market closed lower on Tuesday.
“Hope is returning to the market with indications of de-escalation in the conflict. Statements from President Trump and from the Iranian regime suggest that the conflict might end soon. In particular, Iran’s reiteration that ‘non-hostile ships can transit the Strait of Hormuz’ is good news that will alleviate India’s energy concerns,” stated V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd.
Foreign Institutional Investors (FIIs) reported selling equities worth Rs 8,009.56 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs), however, recorded a net buying of stocks worth Rs 5,867.15 crore.
“The Indian stock market opened on a positive note with a significant gain, extending Tuesday’s strong recovery, supported by optimism regarding potential de-escalation in Middle East tensions,” Ponmudi R, CEO of Enrich Money, commented.
On Tuesday, the Sensex jumped 1,372.06 points or 1.89% to close at 74,068.45. The Nifty surged 399.75 points or 1.78% to end at 22,912.40.
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