Indian stock markets ended a three-day losing streak with a 0.8% gain on Monday, as reported by The Economic Times. The NSE Nifty 50 rose 194.75 points to close at 24,092.70, while the S&P BSE Sensex gained 639.42 points to end at 77,303.63. This recovery came despite fresh uncertainty after the second round of peace talks between the US and Iran stalled again, with markets shrugging off the geopolitical tensions. The gains mirrored positive movements across Asian markets, with South Korea climbing 2.2%, Taiwan gaining 1.8%, and Japan rising 1.4%, while China was up 0.2%. Latest global developments show S&P 500 futures dipped 0.3% after U.S. stock markets closed at record highs last week, while Nasdaq futures fell 0.5% ahead of a busy earnings week.
All sectoral indices ended higher, with Nifty Pharma jumping 2.6%, led by Sun Pharmaceuticals, the top gainer on the index. As reported by The Economic Times, Nifty Consumer Durables rose 2.5%, while healthcare and realty indices gained 2.4% each. Nifty IT climbed 2.2%, and Nifty Auto advanced 1.6%. Notable individual performers included Reliance Industries shares rising 2.9% and Sun Pharmaceuticals gaining 7%. According to Ajit Mishra, SVP Research at Religare Broking, gains in global markets led to buying interest in beaten-down heavyweights. The latest Wall Street performance shows Dow Jones gained 0.75% to 49,513.59, S&P 500 rose 0.84% to 7,123.44, and Nasdaq increased 1.17% to 24,543.08, with tech giants leading the rally despite geopolitical uncertainties.
Brent crude futures rose 2.2% to $107.66 a barrel, after having jumped 14.6% over the past week, as reported by The Economic Times. This crude oil surge came even as Donald Trump cancelled plans to send a US delegation to Pakistan for talks with Iran. The India VIX volatility index fell 6.7% to 18.4, indicating easing near-term risk expectations. Out of 4,556 shares, 3,023 advanced and 1,345 declined, with the Nifty Midcap 150 index rising 1.5% and the Nifty Smallcap 250 gaining 1.8%. Latest global oil developments show Brent crude futures climbed 1.3% to $103.18 per barrel after Iran captured two container vessels at the Strait of Hormuz, with the Strait of Hormuz remaining mostly closed despite a fragile ceasefire. U.S. crude also gained 1% to $96.77 a barrel, reflecting continued supply disruption concerns.
Foreign portfolio investors sold shares worth a net ₹1,151.48 crore on Monday, while domestic institutional investors bought shares worth ₹4,123.92 crore, according to The Economic Times. So far in April, foreign investors have sold shares worth ₹56,172 crore. Saurabh Patwa, head of Equities at Quest Investment Managers, noted that many small-cap stocks had turned attractive from a valuation standpoint after coming under pressure amid US-Iran tensions. The India VIX volatility index fell 6.7% to 18.4, indicating easing near-term risk expectations. Ajit Mishra from Religare Broking highlighted that it is important for Nifty to hold the levels above its 20 DMA of 23,950 for further recovery towards 24,600-24,800 levels, while failure to hold these levels could lead to declines up to 23,500.
