Why market is rising today: Top factors, gainers & losers amid the US-Israel and Iran war 

Indian equity market rose after four sessions of losses on Thursday. The reversal in Sensex came after the 30-stock index tanked 3,160 pts in four sessions. On similar lines, Nifty lost 1016 points in the previous three sessions. In late morning deals, Nifty gained 171 pts to 25,652 and Sensex added 491 pts to reach 79,607. 

Market cap of BSE-listed firms rose by Rs 3.2 lakh crore to Rs 450.35 lakh crore. 

BEL, Reliance, NTPC, Tata Steel, L&T and Adani Ports were the top Sensex gainers rising up to 3% in early deals. 

On the other hand , Eternal, Tech Mahindra and TCS were the top Sensex losers falling up to 2.39%. 

As many as 44 stocks hit their 52-week highs today. On the other hand, 1360 shares fell to their 52-week lows.

Here's a look at factors fuelling the market rally today. 

Gains on Wall Street 

US indices rebounded on Wednesday as fears over US economic growth scare decreased. The stocks brushed aside some of the anxiety around the escalating Middle East conflict. 

The Dow Jones Industrial Average rose 238.14 points to 48,739.41, rising after a three-day losing streak. The S&P 500 gained 0.78% to close at 6,869.50, and Nasdaq Composite added 1.29% to close at 22,807.48.

Two types of data in the US supported market recovery. Data show private sector companies added more jobs than expected in February. The US no-manufacturing sector reported better-than-expected growth in February. 

Oil prices cool off 

The rally in oil prices lost steam after Treasury Secretary Scott Bessent said the US would make “a series of announcements” to support the flow of oil through the Persian Gulf. Brent crude oil futures and US West Texas Intermediate crude futures eased on Wednesday, with the brent crude ending flat and WTI closing up 0.13%. In the previous three days, brent crude surged 15%. 

Technical outlook

Shrikant Chouhan, Head Equity Research, Kotak Securities said, "We believe the short-term outlook is weak but oversold. For traders, 24,300/78,500 will act as a key support zone. If the market sustains above this level, immediate resistance will be at 24,600/79,500. Above 24,600/79,500, it could move towards 24,800-25,000/80,000-80,500. Conversely, a drop below 24,300/78500 could change sentiment. Below this, the market could slide towards 24,100-24,000/78000-77800. The market structure is currently highly volatile and is expected to remain volatile in the near future."

India VIX 

India VIX, the volatility index, of the Indian stock market which surged 50% in the last two sessions, fell 11% to 18.89 in the current session as bulls attempted a recovery on D Street. Often referred to as the "fear index," it gauges investor sentiment and fear, helping traders predict potential market swings.