Kamal Ghorui
Benchmark indices surged sharply on Wednesday, with investors turning bullish as easing oil prices and hopes of renewed US-Iran talks lifted sentiment across sectors.The BSE Sensex jumped 1,263.67 points, or 1.64%, to close at 78,111.24, after rising as much as 1,422.85 points, or 1.85%, during the session. The NSE Nifty climbed 388.65 points, or 1.63%, to settle at 24,231.30.The rally was supported by expectations of easing geopolitical tensions, with crude oil prices falling below the $100 per barrel mark, providing relief to import-dependent economies like India.Here are the top losers and gainers of the day:
Nifty50 top gainers
- InterGlobe (4.77%)
- Eternal (4.43%)
- Kwality Wall’s (4.13%)
- Power Grid (4.03%)
- Tech Mahindra (3.38%)
- TCS (3.33%)
- Adani Ports SEZ (3.18%)
- L&T (3.09%)
- Asian Paints (3.01%)
- Kotak Bank (2.83%)
Nifty50 top losers
- Dr. Reddy’s (-1.47%)
- Bharti Airtel (-0.82%)
- ICICI Bank (-0.23%)
BSE Sensex top gainers
- InterGlobe (4.77%)
- Eternal (4.43%)
- Kwality Wall’s (4.13%)
- Max Healthcare (4.03%)
- Power Grid (4.03%)
- Tata Motors PV (3.59%)
- HDFC Life (3.45%)
- Hindalco (3.40%)
- Tech Mahindra (3.38%)
- Wipro (3.35%)
BSE Sensex top losers
- Bharti Airtel (-0.82%)
- ICICI Bank (-0.23%)
Brent crude, the global oil benchmark, was trading at $95.74 per barrel, up 1.4%.US President Donald Trump said the war with Iran is “close to over.”“I think it’s close to over, yeah. I view it as very close to being over,” he told Fox News.According to US media reports, a second round of talks between the US and Iran could take place in Islamabad “over the next two days.”“The primary trigger for today’s rally was a visible de-escalation in geopolitical concerns. Reports indicating a potential easing of tensions in the Middle East, along with renewed hopes around US–Iran dialogue, helped restore risk appetite,” said Hariprasad K, Research Analyst and Founder, Livelong Wealth.“This shift was further reinforced by a sharp decline in crude oil prices, with Brent falling below the 95 dollar mark. For an import-dependent economy like India, this provides meaningful relief by easing inflation pressures, supporting the currency, and improving margin outlook across sectors,” he added.Vinod Nair, Head of Research at Geojit Investments Limited, said optimism around potential US-Iran negotiations supported broad-based market sentiment.“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,” he said.Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng, ended higher.European markets were trading mixed, while US markets had closed in positive territory on Tuesday, with the Nasdaq rising 1.96%, the S&P 500 gaining 1.18% and the Dow Jones up 0.66%.Stock markets were closed on Tuesday on account of Dr Baba Saheb Ambedkar Jayanti.Foreign Institutional Investors (FIIs) sold equities worth Rs 1,983.18 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,432.30 crore.In the previous session on Monday, the Sensex had fallen 702.68 points, or 0.91%, to close at 76,847.57, while the Nifty dropped 207.95 points, or 0.86%, to 23,842.65.
