Domestic benchmark indices started the day positively, with Sensex rising over 1% and Nifty also showing gains, fueled by optimism surrounding West Asia tensions. Sensex opened at 74,559, up 352 points, while Nifty began trading at 23,110, higher by 108 points, based on exchange data.
In early trading, Sensex surged by 1.20%, climbing 891 points, and Nifty rose by 1.21% to 23,281.85, with strong gains supported by widespread buying across sectors. Major indices, including PSU bank stocks, IT, and energy sectors, saw significant increases of around 2% to 1.7%.
The positive market breadth was evident as auto, metal, and consumer durable stocks also attracted healthy buying interest. Analysts noted that the market, despite bearish undertones, faces key resistance levels around 23,200–23,250, with support near 22,850–22,900.
Analysts mentioned that recent signals from the US and Israel hinting at a potential de-escalation in the Iran conflict provided relief to global markets. In the previous session, foreign institutional investors were net sellers, while domestic institutional investors supported the market by purchasing shares.
Global markets displayed mixed trends, with Wall Street closing lower, the S&P 500 down by 0.27%, and the Nasdaq declining by 0.28%. In Asia, markets varied, with Japan’s Nikkei falling over 3%, Hong Kong’s Hang Seng slipping 0.35%, and South Korea’s KOSPI rising nearly 1% in early trade.
Commodities saw Brent crude futures dropping by 3.39% to $104.96 per barrel, and US WTI crude trading 3.22% lower at $92.47 around 8:55 a.m.
