Sensex ends 1,200 points higher, Nifty above 23,300; Titan up 5%
India Today
The S&P BSE Sensex jumped 1205.00 points to end at 75,273.45, while the NSE Nifty50 gained 394.05 points to close at 23,306.45.
Benchmark stock market indices closed higher for the second straight session on Wednesday as markets seemed to be in recovery mode after US President Trump's remarks, signalling de-escalation in the West Asia war.
The S&P BSE Sensex jumped 1205.00 points to end at 75,273.45, while the NSE Nifty50 gained 394.05 points to close at 23,306.45.
Vinod Nair, Head of Research, Geojit Investments Limited, said that markets continued to build on the previous day’s momentum as global risk sentiment improved, with hopes of peace emerging on the radar.
"Potential diplomatic progress between the US and Iran—despite mixed geopolitical commentary—led to easing crude oil prices below $100, which was welcomed by the market. Early signs of normalisation in maritime movement through the Strait of Hormuz are likely to further support investor confidence, although it may be early to comment,": he added.
After the closing bell, UltraTech Cement Ltd led the Sensex gainers, rising 4.39%. It was followed by Larsen and Toubro Ltd, which gained 4.00%. Bajaj Finance Ltd moved up 3.82%, while Titan Company Ltd added 3.50%. Trent Ltd also ended higher, rising 3.39%.
On the losing side, Tech Mahindra Ltd saw the sharpest fall, dropping 1.87%. Power Grid Corporation of India Ltd declined 1.42%, Tata Consultancy Services Ltd slipped 0.87%, Bharat Electronics Ltd was down 0.27%, and Infosys Ltd edged lower by 0.09% at the close.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
As the war enters its fourth week, airlines are struggling to cope with a sharp rise in jet fuel prices, which have surged significantly in a short span of time. The impact is already visible for passengers, with ticket prices expected to rise in the coming months as airlines try to protect already thin profit margins.
The world is already feeling the heat as the West Asia conflict enters its fourth week, pushing global crude oil prices higher. In this article, we speak to experts to understand whether this shock could tip the world toward a recession.
The additional allocation will be subject to commercial establishments registering with oil companies and applying for a piped natural gas connection, according to a letter written by the oil secretary to states.
Civil Aviation Minister Ram Mohan Naidu said that the impact of the ongoing Iran war on the aviation sector is likely to be visible from April 1, when the Air Turbine Fuel (ATF) prices will be revised.
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The former RBI Govenor said a 15–20% global energy disruption would require sharp demand cuts, pushing oil to $150–$200 per barrel, risking severe economic stress if the conflict continues another month.
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The gold rate today is around Rs 1.5 lakh per 10 grams for 24-carat gold, while 22-carat gold is near Rs 1.4 lakh, with prices edging higher after recent losses. Silver is also seeing a slight uptick after a volatile phase.
Early indicators suggest a positive start. GIFT Nifty futures were trading at 23,250.5 at around 08:24 am, indicating that the Nifty 50 may open above Thursday's close of 23,002.15.