Dalal Street started the day positively for the second consecutive session on Wednesday, as geopolitical tensions eased in West Asia. Investor confidence was boosted by reports of a 15-point plan proposed by Donald Trump to Iran through Pakistan. The Sensex opened 0.80% higher at 74,652, while the Nifty began trading at 23,064, up by 0.66%.
In early trading, the Sensex extended gains, reaching an intraday high of 74,840, up by 1.04% or 771 points by 9.18 a.m. The Nifty also surged by around 1% or 260 points to 23,173.05. Most sectors traded positively, with auto, realty, and media stocks leading the gains. Nifty Auto rose by 1.47%, followed by Nifty Realty (1.39%), Nifty Media (1.30%), and Nifty Metal (1.23%).
The positive sentiment extended to broader markets, with the Nifty Midcap 100 and Nifty Smallcap 100 advancing by approximately 1% each. Analysts highlighted that while global factors supported the positive opening, caution was advised as the broader market structure remained delicate. They emphasized the need for a breakout above key resistance levels for sustained upside, suggesting a selective approach for investors amid global uncertainties and volatility.
Crude oil prices saw a significant drop on hopes of a ceasefire, with Brent crude futures falling by 7% to $97.18 per barrel and US WTI crude dropping over 6% to $86.72. On the global front, Wall Street indices closed lower, while Asian markets traded higher, with Japan’s Nikkei up by 3.26%, South Korea’s KOSPI rising by 3.36%, and Hong Kong’s Hang Seng gaining 1.30%.
