Rs 11 lakh crore added as Sensex settles 1,186 pts higher, Nifty above 22,650; Trent, IndiGo gain over 6%

Domestic equity benchmarks BSE Sensex and NSE Nifty snapped their two-day downtrend to close higher on Wednesday, mirroring global markets amid hopes for de-escalation in the West Asia conflict.

At close, the Sensex jumped 1186.77 points, or 1.65 per cent, to settle at 73,134.32, while the Nifty advanced 348 points, or 1.56 per cent, to close at 22,679.40. 

Investors’ wealth rose by Rs 11 lakh crore, as the combined market capitalisation of BSE-listed companies surged to Rs 422 lakh crore, compared with Rs 411 lakh crore recorded in the previous session.

Top gainers & losers

Among Sensex constituents, Trent emerged as the top loser, gaining 6.74% to Rs 3516.75. InterGlobe Aviation (IndiGo) followed with a 6.22% jump, while Adani Ports, Bharat Electronics (BEL), State Bank of India (SBI), and Eternal rose 5.47%, 4.54%, 3.89% and 3.34%, respectively.

While Sun Pharma, NTPC and Power Grid were among losers on the 30-pack index, which declined up to 1.64%.

Five stocks, namely Reliance Industries, SBI, HDFC Bank, L&T and Axis Bank, contributed largely to the Sensex’s surge.  

Broad-based buying supported benchmark indices, with mid- and small-cap stocks outperforming large-cap stocks, aided by a stable rupee and softer crude oil prices, said Vinod Nair, Head of Research, Geojit Investments Ltd. 

“Sectoral rotation from defensives toward cyclicals was evident, with banking, chemicals, metals, and realty emerging as the key outperformers of the session. Nevertheless, elevated bond yields and intraday volatility capped gains, keeping the overall advance measured rather than emphatic. Despite the constructive tone, markets may remain sensitive to sudden reversals in the evolving geopolitical landscape going forward," Nair said.

Among sectoral indices, all major sectors ended the session on a positive note. The BSE PSU Bank jumped 3.66% to close at 4,583.75, while the BSE IT index gained 2.40% to end at 28,596.85.

"Further continuation of the rally remains contingent on tangible de-escalation on the ground, the reopening of energy supply lanes including the Strait of Hormuz, and a sustained restoration of normalcy across equity and commodity markets alike," said Ponmudi R, CEO of Enrich Money.