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Indian stock markets, including the Sensex and Nifty, surged nearly 1 per cent today, buoyed by a significant improvement in global risk appetite following the de-escalation of geopolitical tensions in the Middle East and renewed foreign fund inflows.
Photograph: Shailesh Andrade/Reuters
Sensex and Nifty50 Rally: Key Highlights from Today’s Market
- Indian stock market benchmark indices, Sensex and Nifty, rallied nearly 1 per cent.
- The rally was primarily driven by easing geopolitical tensions in the Middle East, including hopes of a US-Iran diplomatic resolution and an Israel-Lebanon ceasefire.
- Fresh foreign institutional investor (FII) inflows, amounting to Rs 382.36 crore on Thursday, also contributed to the market’s upward movement.
- The de-escalation of tensions has reduced concerns about a sustained spike in crude oil prices, positively impacting inflation expectations and market sentiment.
- The 30-share BSE Sensex jumped 504.86 points to settle at 78,493.54, while the 50-share NSE Nifty climbed 156.80 points to end at 24,353.55.
Stock market benchmark indices Sensex and Nifty rallied nearly 1 per cent on Friday, driven by optimism surrounding easing geopolitical tensions and fresh foreign fund inflows.
Renewed hopes of a diplomatic resolution between the US and Iran, along with a 10-day ceasefire between Israel and Lebanon, have materially improved global risk appetite, a market analyst said.
Market Performance Highlights
The 30-share BSE Sensex jumped 504.86 points, or 0.65 per cent, to settle at 78,493.54. During the day, it surged 564.77 points, or 0.72 per cent, to 78,553.45.
The 50-share NSE Nifty climbed 156.80 points, or 0.65 per cent, to end at 24,353.55.
Sector-Wise Performance and Top Gainers Today
From the 30-Sensex firms, Hindustan Unilever, Power Grid, Reliance Industries, Bharat Electronics, Tech Mahindra and Titan were among the major winners.
In contrast, Sun Pharma, Mahindra & Mahindra, Larsen & Toubro and HCL Tech were among the laggards.
Global Market Cues Driving Indian Equities Higher
Brent crude, the global oil benchmark, dropped 3.07 per cent to $96.34 per barrel.
“The primary catalyst for today’s strength was the de-escalation in West Asia.
“Renewed hopes of a diplomatic resolution between the US and Iran, along with a 10-day ceasefire between Israel and Lebanon, have materially improved global risk appetite.
“This has reduced concerns around a sustained spike in crude oil prices, which had earlier weighed on inflation expectations, currency stability, and overall market sentiment,” Hariprasad K, Research Analyst and founder, Livelong Wealth, said.
Global Market Trends and FII Activity
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended lower.
Markets in Europe were trading higher in mid-session deals.
US markets ended in positive territory on Thursday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 382.36 crore on Thursday, according to exchange data.
“The domestic market closed the day higher, supported by improving prospects of a Middle East resolution and a reversal in FII flows into net buying.
“A ceasefire between Israel and Lebanon helped keep crude below $100/bbl, easing pressure on import-dependent economies,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
