नवीनतम
Sensex jumps 2,946 points
MUMBAI [Maha Media]: Equity benchmark indices Sensex and Nifty ended nearly 4 per cent higher on Wednesday, following an impressive rally in global markets and a drop in crude oil prices, after the US and Iran announced a two-week ceasefire.
Rallying for the fifth day in a row, the 30-share BSE Sensex jumped 2,946.32 points or 3.95 per cent to settle at 77,562.90. During the day, it surged 3,018.96 points or 4 per cent to 77,635.54.
The 50-share NSE Nifty soared 873.70 points or 3.78 per cent to end at 23,997.35. It rallied 901.5 points or 3.89 per cent to 24,025.15 during intra-day trade.
From the Sensex pack, InterGlobe Aviation jumped the most by 8.22 per cent. Larsen & Toubro, Bajaj Finance, Mahindra & Mahindra, Axis Bank and Maruti were also among the prominent gainers.
Tech Mahindra, Sun Pharma and Power Grid were the laggards.
Brent crude, the global oil benchmark, tumbled 13.89 per cent to USD 94.09 per barrel.
In Asian markets, South Korea's benchmark Kospi surged 6.87 per cent and Japan's Nikkei 225 index jumped 5.39 per cent. Shanghai's SSE Composite index and Hong Kong's Hang Seng index also recorded sharp rallies.
European markets were trading significantly higher.
US markets ended flat on Tuesday.
Meanwhile, the Reserve Bank of India kept its key policy rate unchanged on Wednesday, adopting a cautious wait-and-watch stance as policymakers assessed the fallout from the six-week Iran conflict on energy supplies, inflation and growth.
The central bank's six-member Monetary Policy Committee voted unanimously to keep the benchmark repurchase rate at 5.25 per cent, flagging heightened uncertainty after the West Asia conflict drove crude prices sharply higher, weakened the rupee and disrupted trade flows.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,692.11 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 7,979.50 crore.
Vinod Nair, Head of Research, Geojit Investments Limited, said, "The interim ceasefire is seen as a step toward broader regional stability. India benefits immediately from the reopening of the Hormuz Strait, which has pushed oil prices below USD 100 and reduced downside risks to FY27 EPS growth." The sharp improvement in sentiment has driven a notable decline in the 10-year bond yield and strengthened the rupee, while the RBI’s status quo stance has further supported financials, he added.
On Tuesday, the Sensex jumped 509.73 points or 0.69 per cent to settle at 74,616.58. The Nifty climbed 155.40 points or 0.68 per cent to end at 23,123.65.
