Sensex jumps 600 pts, Nifty 50 reclaims 23,800 as West Asia tensions ease; IndiGo, BEL and Tata Steel lead gains

Tracking firm cues from global peers, the Indian equity market opened higher on Thursday amid broad-based buying across indices, supported by gains in aviation, metals, and realty stocks. Investor confidence improved amid optimism over easing geopolitical tensions in West Asia after reports indicated that some vessels had resumed passage through the Strait of Hormuz.

The 30-share BSE Sensex rose by as much as 627 points, or 0.83%, to 75,945.79 after opening at 75,732.42. The broader Nifty 50 gained 200 points, or 0.85%, to 23,859.90 in early trade.

The broader market also saw a spurt in buying activities, in sync with benchmark indices, with the Nifty Midcap and the Nifty Smallcap indices rising 0.76% and 0.89%, respectively.

Volatility also cooled, with the India VIX falling 3.17% to 17.86, suggesting improving investor confidence and lower near-term market anxiety.

Meanwhile, crude oil prices edged higher on Thursday after witnessing a steep correction of more than 5.6% in the previous session amid optimism over progress in U.S.-Iran negotiations. Brent crude futures rose 0.40% to $105.87 per barrel, while U.S. WTI crude traded near $99.2 per barrel.

Oil prices had fallen sharply on Wednesday after U.S. President Donald Trump said talks with Iran were in the final stages, though he cautioned that further attacks could follow if Tehran failed to reach an agreement.

IndiGo, BEL, Tata Steel among top gainers

Among the BSE Sensex pack, 22 out of 30 stocks were trading in the green zone, with defence, aviation, metals and banking stocks leading the gains.

Bharat Electronics (BEL) rose 2.37% to ₹423.20, emerging as the biggest gainer on the benchmark index. Aviation major InterGlobe Aviation , which operates IndiGo, climbed 2.29% to ₹4,361, while Tata Steel advanced 1.18% to ₹209.50.

Paint maker Asian Paints gained 1.14% to ₹2,628.50, while Eternal added nearly 1% to ₹245.70. Infrastructure major Larsen & Toubro rose 0.8% to ₹3,943.60.

Among financials, HDFC Bank gained 0.55%, Axis Bank advanced 0.51%, and ICICI Bank  rose 0.46%. State-run lender State Bank of India  also traded higher by 0.37%.

Other notable gainers included Adani Ports and Special Economic Zone, Maruti Suzuki India, and UltraTech Cement.

On the losing side, IT stocks witnessed mild profit booking. Infosys was the top laggard, falling 0.72% to ₹1,188.15. Retail-focussed Trent declined 0.43%, while Bajaj Finance slipped 0.21%. Titan Company, Tata Consultancy Services, and Reliance Industries  also traded marginally lower in early deals.

Sectorally, realty stocks outperformed with the Nifty Realty surging 1.61%, aided by optimism around housing demand and easing borrowing cost expectations. Among others, Nifty Auto rose 0.84%, Nifty Metal gained 0.75%, and the Nifty PSU Bank climbed 0.88%.

IT stocks underperformed broader markets, with the Nifty IT inching up just 0.06%, reflecting caution amid concerns over global technology spending and weak overseas demand trends.

Global equities rebound as Strait of Hormuz concerns ease

Asian equities rebounded sharply on Thursday, tracking a strong recovery on Wall Street and improving sentiment around easing geopolitical tensions in West Asia.

South Korea’s KOSPI was leading the gainers chart, surging over 7%, while the Taiwan Weighted Index rallied nearly 4%. Japan’s Nikkei 225 advanced more than 3.5%, and Singapore’s Straits Times and Thailand’s SET Composite also posted gains. However, Hong Kong’s Hang Seng traded flat, while Indonesia’s Jakarta Composite remained under pressure, down nearly 2%.

In the overnight trade, U.S. markets ended a three-session decline, led by technology and semiconductor stocks ahead of Nvidia’s quarterly earnings. The Dow Jones Industrial Average jumped 1.31%, to close above the 50,000 mark, while the S&P 500 gained 1.08%. The Nasdaq Composite outperformed with a 1.55% rise.

 (DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)