Indian stock markets began the month positively, with both Sensex and Nifty rising by nearly 1%. Sensex surged by 0.8% to reach an intraday high of 75,367, while Nifty climbed 0.78% to trade at 23,733. The IT sector led the gains, with Nifty IT emerging as the top gainer, rising around 2%.
Sectoral trends were mostly positive, with Nifty MidSmall IT & Telecom also advancing over 1%. Media, chemicals, and metal stocks showed positive movements. However, FMCG stocks faced pressure, leading to a 0.57% decline in the Nifty FMCG index. Auto and healthcare sectors also saw marginal decreases.
Among Nifty constituents, Hindustan Unilever experienced the most significant drop, falling by 1.35%. This was followed by Mahindra & Mahindra, which slipped 0.95%. Notably, India VIX, the market’s volatility indicator, decreased by more than 1% to around 16. In the global scenario, Brent crude rose by 2.63% to $93.52 per barrel, while US WTI crude gained over 3% to $90.
Asian markets also performed well, with major indices like Nikkei, Hang Seng, and KOSPI rising by up to 4%. Last month, US-Iran tensions escalated with the US conducting strikes on Iranian radar and drone command-and-control sites. Reports suggest that the US is considering modifying the terms of the agreement with Iran amidst ongoing conflicts.
