Sensex Surges 940Points, Nifty Tops 24,300 In Broad-based Rebound Led By Banks, Autos 

Equity benchmarks ended sharply higher on Wednesday, but not without volatility, as markets swung between gains and losses before staging a strong late recovery on easing crude prices and improving global cues.

The BSE Sensex jumped 940.73 points, or 1.22%, to close at 77,958.52, while the Nifty 50 rose 298.15 points, or 1.24%, to settle at 24,330.95, reclaiming the 24,300 mark.

Strong Start, Early Optimism

Marketsstarted sharply higher, tracking positive global cues and a pullback in oil prices amid hopes of a potential U.S.-Iran peace deal. Early gains were broad-based, with banks, autos and rate-sensitive stocks leading the charge as sentiment improved.

To be sure, the strong opening also marked a reversal from the previous session’s weakness, when elevated oil prices and geopolitical tensions had dragged stocks.

Mid-Session Dip Amid Profit Booking

However, the rally lost steam as the session progressed. Indices pared gains and briefly slipped into negative territory, as traders booked profits after the recent volatility and remained cautious over lingering geopolitical risks.

The mid-session weakness reflected a lack of conviction at higher levels, with investors wary of chasing the rally despite supportive global cues. Some pressure was also seen in heavyweight stocks, which dragged the indices lower during this phase.

Late Recovery Lifts Markets to Highs

Markets found their footing in the latter half of the session, with fresh buying emerging across sectors. A continued easing in crude oil prices and steady global sentiment helped restore confidence, triggering a sharp rebound.

The final hour saw strong buying momentum, pushing indices towards their intraday highs and helping markets close near the top of the day’s range.

Broader Markets

Broader markets also participated in the rally, with midcap and smallcap indices rising nearly 2% each, indicating strong market breadth and risk-on sentiment.

Market breadth remained firmly positive, with about 2,755 stocks advancing against 1,287 declines, reflecting widespread participation in the upmove.

Sectoral Performance: Broad-Based Rally

The rally was broad-based, with most sectoral indices ending in the green. Auto, media, private banks, PSU banks, realty, metals and pharma stocks gained 1–2%, leading the upmove.

However, defensive and oil-linked sectors lagged, with FMCG, energy and power stocks ending in the red or underperforming the broader market.

Stock Movers: Earnings, Sector Plays in Focus

Among individual stocks, InterGlobe Aviation, Trent, Asian Paints and Shriram Finance were among the top gainers, while ONGC, Larsen & Toubro, Reliance Industries and NTPC featured among the laggards.

Banking stocks also remained in focus, buoyed by expectations of improved credit growth and supportive policy measures.

Rupee Rebounds Sharply

In currency markets, the rupee snapped a five-day losing streak, ending 68 paise higher at 94.61 per dollar, reflecting relief from easing oil prices and improved capital flow sentiment.

The Takeaway

Wednesday’s session marked a decisive shift in sentiment, with markets rebounding strongly after recent volatility. The combination of cooling crude prices, global strength and domestic buying helped drive a broad-based rally.

That said, the sustainability of this momentum will hinge on how geopolitical developments and oil prices evolve. For now, though, Dalal Street has bounced back with conviction—shaking off recent jitters and closing the day firmly in the green.

Source:

• Exchanges