Sensex, Nifty surge 4%, extend rally to 5th day; investor wealth jumps Rs 17 lakh crore

Domestic equity benchmarks BSE Sensex and NSE Nifty strongly extended their winning streak to a fifth consecutive session on Wednesday, supported by broad-based buying amid the US-Iran ceasefire announcement and easing oil prices as Tehran agreed to safe passage through the Strait of Hormuz.

At close, the Sensex surged 2,946.32 points, or 3.95 per cent, to close at 77,562.90, while the Nifty jumped 873.70 points, or 3.78 per cent, to settle at 23,997.35. 

Investors’ wealth surged by approx Rs 17 lakh crore as the combined market capitalisation of BSE-listed companies climbed over Rs 445 lakh crore from Rs 428 lakh crore in the previous session.

India benefits immediately from the reopening of the Hormuz Strait, which has driven oil prices below $100 and reduced downside risks to FY27 EPS growth, said Vinod Nair, Head of Research, Geojit Investments Limited. 

Top gainers & losers

Among Sensex constituents, InterGlobe Aviation (IndiGo) emerged as the top gainer, gaining 8.22% to Rs 4619.10. Larsen & Tuobro (L&T) followed with a 7.64% surge, while Bajaj Finance, Mahindra & Mahindra (M&M), Axis Bank and Maruti Suzuki soared 7.03%, 6.79%, 6.56% and 6.33%, respectively. 

“Although the Q4 results outlook remains muted, investors are focusing on reasonable valuations and a stable medium‑term earnings trajectory, suggesting that the rally still has room to continue in the near term," Nair added.

While Tech Mahindra, Sun Pharma and Power Grid were only losers on the 30-pack index, which declined by up to 1.53%. 

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

Among sectoral indices, the BSE Auto surged 6.64% to settle at 57,405.52, while the BSE Bankex index jumped 5.85% to close at 62,775.03.