Indian equity markets extended gains for the second consecutive session on Wednesday, with benchmark indices Sensex and Nifty rising nearly 2 per cent, supported by a fall in crude oil prices and positive global cues amid hopes of easing tensions in West Asia.
The 30-share BSE Sensex climbed 1,205 points, or 1.63 per cent, to close at 75,273.45. During the day, it had touched a high of 75,849.76, gaining 1,781.31 points or 2.40 per cent.
The 50-share NSE Nifty surged 394.05 points, or 1.72 per cent, to finish at 23,306.45. Among Sensex constituents, UltraTech Cement, Bajaj Finance, Larsen & Toubro, Titan, InterGlobe Aviation and Trent, were the top gainers, while Tech Mahindra, Power Grid, Tata Consultancy Services, and Bharat Electronics underperformed.
Brent crude, the global oil benchmark, fell sharply by 5.07 per cent to USD 99.19 per barrel, easing input cost concerns for markets. “Markets continued to build on yesterday’s momentum as global risk sentiment improved, with hopes of peace emerging on the radar. Potential diplomatic progress between the US and Iran—despite mixed geopolitical commentary—led to crude oil falling below USD 100, which was welcomed by investors,” said Vinod Nair, Head of Research at Geojit Investments Limited.
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In Asia, benchmark indices, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng ended the day higher. European markets were trading in positive territory, while the US market had closed lower on Tuesday.
“The primary trigger for improved sentiment was emerging signals of a possible pause in the US–Iran conflict. Reports suggesting a potential ceasefire and diplomatic engagement raised expectations of de-escalation, prompting a risk-on reaction across global markets,” said Hariprasad K, Research Analyst and Founder of Livelong Wealth. He added that optimism remains fragile, driven more by anticipation than confirmed outcomes.
Despite the rally, Foreign Institutional Investors (FIIs) sold equities worth ₹8,009.56 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹5,867.15 crore, according to exchange data.
On Tuesday, Sensex had gained 1,372.06 points, or 1.89 per cent, to settle at 74,068.45, while Nifty had advanced 399.75 points, or 1.78 per cent, to 22,912.40.
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