Benchmark stock market indices rallied, closing higher on Wednesday, reacting to optimism in global markets after report of talks resuming between US and Iran.
The S&P BSE Sensex jumped 1,263.67 points to close at 78,111.24, while the NSE Nifty50 gained 38.65 points to end at 24,231.30.
Vinod Nair, Head of Research, Geojit Investments Limited, said that optimism around potential US–Iran negotiations supported a broad-based market sentiment, driving oil prices below USD 100 as expectations of talks outweighed concerns over supply disruption.
“Despite a muted Q4 outlook, investors remain encouraged by attractive valuations and a relatively better FY27 earnings outlook, indicating that the rally could sustain momentum in the near term,” he added.
After the closing bell, InterGlobe Aviation Ltd led the Sensex gainers, rising 4.63%. It was followed by Eternal Ltd, which gained 4.36%. Power Grid Corporation of India Ltd moved up 4.11%, while Tech Mahindra Ltd added 3.33%. Tata Consultancy Services Ltd also ended higher, rising 3.31%.
On the losing side, Bharti Airtel Ltd saw the sharpest fall, dropping 0.64%, while ICICI Bank Ltd declined 0.20% at the close.
“The decline in India’s 10year bond yield and a drop in India VIX further signal stability. Sectorwise, resilient demand expectations supported gains in the Power and Consumer Durables indices, while easing global risk sentiment enabled the IT index to outperform,” said Nair.
