The Nifty breached the 24,000 mark, while the Sensex jumped nearly 3000 points, marking a strong rebound after recent volatility driven by Middle East tensions.

At intraday, Nifty 50 surged 3.80 per cent higher at 24,004 mark and Sensex hit an intraday high at 77,598.20, surging 4 per cent as of 11:17 AM.

Why Stock Market Is Rising Today

The ceasefire announcement triggered a broad risk-on sentiment across global markets, supported by a sharp fall in crude oil prices and a weakening dollar, helping boost investor confidence in domestic equities. Heavyweight banking, IT and metal stocks led the advance, as traders aggressively covered short positions and repositioned for a relief rally.

Nifty 50 logged its biggest intraday gain since May 12, 2025, while the Nifty Bank index recorded its strongest intraday jump since June 5, 2024. The benchmark Nifty opened more than 3.3 per cent higher near the 23,900 mark, and Bank Nifty surged about 4 per cent, gaining over 2,000 points from the previous close, reflecting broad-based buying across sectors.

Sectoral Gainers

All sectoral indices traded in the green, underscoring the strength of the rebound. Nifty Realty emerged as the top performer, jumping over 5.5 per cent, led by strong gains in Prestige Estates and Aditya Birla Real Estate. Nifty Auto and Nifty Realty both gained over 5 per cent, while all mainboard indices advanced more than 3 per cent, signalling widespread participation in the rally.

Market breadth remained exceptionally strong across segments. The Nifty 500 advance-decline ratio stood at 486 advances versus just 14 declines, while the Nifty Total Market saw 731 stocks advancing against only 19 declining. On the benchmark Nifty 50, 47 stocks traded higher and only three were in the red. The Nifty touched a four-week high, while the Nifty Smallcap index surged over 3.4 per cent in early trade.

Among stocks, IndiGo hit its 10 per cent upper circuit, emerging as a key gainer alongside L&T, Bajaj Finance, Adani Ports and Shriram Finance. On the downside, ONGC, Coal India and Tech Mahindra featured among the early laggards. Meanwhile, the Nifty Midcap index jumped 3.4 per cent on a gap-up opening, starting nearly 2,000 points above its previous close, further reinforcing the depth and momentum of the market rebound.

Meanwhile, global brokerage firm Bernstein noted that after over six weeks of severe hostilities that choked the global oil and gas supply, Iran and US agreed to a two-week ceasefire. While risk of a conflict restarting after two weeks may be questioned, "we see it as the beginning of an off-ramp," Bernstein said.

It further added that, "We believe the end to hostilities will mark a gradual reversal in many areas, some which are heavily beaten down by FIl exits like financials -which remains a longer term play." The brokerage also noted that a short term reprieve should be evident across all sectors that are specifically vulnerable to crude: chemicals, aviation, logistics, paints and pharma, energy (OMCs) to an extent.

However Bernstein remained cautious noting that "We still don't see a significant reason for Flls to come back in droves or crude to improve materially below $85-90."

The brokerage noted that it will invest in the rebound through financials as a more durable play and, for the short term, have some risk exposures to the most impacted sectors (MENA-exposed construction etc). "We expect OMCs, travel, chemicals, paints and construction to see a rebound lasting a few days. We remain neutral on Nifty with year-end target of 26,000," it said.