Indian equity benchmarks began the week on a strong note, with both indices rising by 1% in morning trade. The Sensex climbed 833 points to reach 77,746.79, while the Nifty reached 24,245.85, up by 250 points. Various sectors like auto, realty, metal, FMCG, and energy witnessed buying interest, with indices like Nifty Auto, Nifty Realty, Nifty Metal, Nifty FMCG, and Nifty Oil & Gas gaining nearly 2%.
Some stocks, however, faced pressure, including Kotak Mahindra Bank, Dr. Reddy’s Laboratories, TCS, Eternal, ITC, and Bharti Airtel. US President Donald Trump announced plans to aid vessels stuck in the Strait of Hormuz as a humanitarian gesture. Tehran mentioned receiving a response from the US regarding a peace proposal, but Trump hinted at potential rejection.
Market sentiment may be influenced by the ongoing Assembly election results in key states like Tamil Nadu and West Bengal. Experts suggest that market direction will be impacted by crude oil prices, which are sensitive to West Asia developments. Brent crude dropped to $107.51 per barrel, and US West Texas Intermediate fell to $99.11 a barrel.
Asian markets, including Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s KOSPI, traded higher, with gains of up to 4%.
