The Indian stock market witnessed a spectacular rebound on Wednesday following the announcement of a strategic ceasefire between the US and Iran.
In an unprecedented surge, the BSE Sensex skyrocketed over 2,900 points to hit the 77,000 mark, while the NSE Nifty jumped nearly 800 points, racing toward the psychological 24,000 level.
The primary catalyst for this massive rally is the cooling of geopolitical tensions, leading to a sharp decline in Brent crude oil prices, which fell below $94 per barrel. The Nifty Bank index mirrored this optimism, surging over 2,200 points to cross the 54,000 threshold. HDFC Bank emerged as a major driver, gaining over 4% in intra-day trading, despite its recent volatility.
Top gainers included heavyweights like Tata Motors CV, Ashok Leyland, Aditya Birla Real Estate, and JK Tyre, as the Nifty Auto index became the star performer of the session. Market analysts point out that this is Nifty Bank's best single-day performance since June 2024. With global sentiments turning “risk-on” after the ceasefire, domestic investors are looking forward to a sustained bullish run on Dalal Street.