BT Closing Bell | Sensex, Nifty end higher amid US-Iran peace hopes; top gainers & losers

The Indian equity market ended higher on Wednesday on positive global cues. The market surged in the last two hours of trade amid reports that suggested US and Iran were close to inking an agreement on a one-page memorandum of understanding (MoU), which could pave way to end the months-long war. 

Brent crude oil prices slipped 9% to $100 per barrel. On the other hand, markets in the UK, France, Germany and Spain surged over 2 per cent each. South Korea's Kospi rose 6.45 per cent leading the Asian rally. Domestic markets took cues from positive stock market rallies across Europe and Asia. 

Sensex rose 941 pts to close at 77,958 and Nifty added 298 pts to settle at 24,330. 

Market cap of BSE-listed firms rose to Rs 472.81 lakh crore. 

IndiGo shares rose 6.60% to Rs 4519.55, rising the most on Sensex after the Modi Cabinet cleared Emergency Credit Line Guarantee Scheme (ECLGS) with an outlay of Rs 18,100 crore to support MSMEs and airlines affected by the West Asia crisis.

Trent, Asian Paints, SBI, HDFC Bank, Eternal, Axis Bank  and M&M were the other Sensex gainers rising up to 3.91% on Monday. 

A rally in the banking stocks also boosted sentiment on the Dalal Street. HDFC Bank, Bank of Baroda, Axis Bank, PNB, SBI, and Union Bank shares rose over 2% each in the afternoon session. YES Bank stock rose nearly 8%. 

On the other hand, RIL, L&T, PowerGrid, NTPC and HCL Technologies were the top losers, falling up to 1.80%. 

As many as 168 stocks hit their 52-week highs today. On the other hand, 25 shares fell to their 52-week lows.

Vinod Nair, Head of Research, Geojit Investments said, "Domestic markets rallied on a risk-on sentiment, driven by easing US–Iran tensions and China’s diplomatic engagement, which helped contain crude prices, though the trend remains headline-sensitive. Global cues were further strengthened by strong AI-led tech earnings, while yen-led dollar weakness aided EM flows. Domestically, favourable political cues, improving infra executions, and ECLGS 5.0 approval remain supportive, especially for MSME sectors." 

Ajit Mishra – SVP, Research, Religare Broking said, "Nifty rebounded sharply from its support zone near the short-term moving average (20 DEMA) around 24,000 and ended on a firm note. The rebound in banking stocks, following their recent phase of underperformance, also played a crucial role. Indications favour further upside towards 24,550 and then 24,750 levels. On the downside, support remains intact at 24,000–23,800. Traders should maintain a positive yet cautious stance, focusing on stock-specific opportunities across sectors, while closely monitoring crude oil prices and geopolitical developments for further directional cues.”

Previous close 

Sensex declined 251.61 points, or 0.33 per cent, to settle at 77,017.79, while the Nifty fell 86.50 points, or 0.36 per cent, to close at 24,032.80.