The SENSEX surged over 800 points while NIFTY50 crossed 24,200 during the latest trading session, driven by strong global market cues and falling crude oil prices. According to latest reports, the SENSEX was trading 765.59 points, or 0.99%, higher at 77,756.81 and the Nifty 50 climbed 222.75 points, or 0.93%, to 24,244.40 after hitting an intraday high of 24,261.60. The rally was led by auto stocks, with the Nifty Auto index surging 3.09%, making it the top-performing sector, while Nifty Realty gained 1.67%, leading gains among sectoral indices. Large-cap stocks continued to outperform, with the Nifty 100 rising 0.91% and the Nifty 500 gaining 0.65%, while the Nifty Midcap 100 was up 0.21% and the Nifty Smallcap 100 slipped 0.03%. India VIX, the market's volatility gauge, declined 3.32% to 12.94, reflecting improving investor confidence. The sharp gains added nearly ₹2 lakh crore to the total market capitalisation of all companies listed on BSE, pulling it up to ₹478 lakh crore as of 12:15 pm.
Maruti Suzuki emerged as the top gainer, soaring 4.91% to ₹13,898 against a previous close of ₹13,248, touching an intraday high of ₹13,917, followed by Max Healthcare which climbed 4.65% to ₹1,132 from ₹1,081.70, with the stock hitting a high of ₹1,139.80. IndiGo gained 4.41% to ₹5,436.70, touching ₹5,454 intraday, against a previous close of ₹5,207.20, while Mahindra & Mahindra rose 4.15% to ₹3,191.60 with an intraday high of ₹3,196. Shriram Finance advanced 2.34% to ₹1,042.85. Financial stocks also witnessed strong buying, with Nifty Financial Services gaining 1.16%, Nifty Private Bank rising 1.13% and Nifty Bank advancing 0.94%. Realty stocks remained firm, with the Nifty Realty index up 1.67%, while metal stocks continued to lag, with the Nifty Metal index declining 0.87%, and oil & gas stocks were marginally lower. Siemens rose 2.17%, while Adani Energy Solutions gained 1.38% and Aegis Logistics advanced 1.18%, according to NSE data. On the losing side, ONGC fell 2.19% to ₹234.75, Coal India declined 2.16% to ₹432.20, Hindalco slipped 1.88% to ₹958.20, Titan fell 1.31% to ₹4,267.20, and Tech Mahindra dropped 1.29% to ₹1,442.80.
The strong performance was attributed to strong global cues and falling crude oil prices that provided positive momentum to Indian equity markets. According to market experts, Brent crude traded near $69-70 per barrel after falling 4.3% in the previous session, while US West Texas Intermediate crude slipped below $70 per barrel. Market participants pointed to higher crude availability from Middle Eastern and African producers, which increased supply in the physical market and eased shortage concerns. Oil prices fell to pre-Iran war levels after soaring to as high as $120 per barrel earlier this year, and remaining above $100 per barrel for most of the time since the war in the Middle East broke out at the end of February, effectively shutting the Strait of Hormuz, a narrow 33-kilometre waterway connecting the Persian Gulf with the Gulf of Oman that handles over 20% of the world's daily oil and gas shipments. US President Donald Trump said the US signed an agreement to end the conflict with Iran and fully open the Strait of Hormuz, with reports indicating at least 20 oil tankers carrying about 35 million barrels of crude had passed through the Strait of Hormuz following the agreement. Asian equities started Thursday on a strong note, with Japan's Nikkei climbing more than 2% and South Korea's KOSPI rallied sharply, providing positive international support. The rupee strengthened to around ₹94.3 against the dollar, supported by the crude price decline and improved global risk appetite following strong earnings guidance from US chipmaker Micron Technology.
Despite the strong benchmark rally, market breadth remained weak, with 1,753 stocks advancing against 2,285 declining on BSE, while 208 remained unchanged. A total of 134 stocks hit 52-week highs against 43 touching 52-week lows, with 167 stocks hitting upper circuits and 154 hitting lower circuits. Sectorally, Nifty Auto surged 3% to lead the gains, while Nifty Realty advanced nearly 2% and Nifty Private Bank rose over 1%. Broader markets, however, failed to hold on to the momentum, with Nifty Smallcap 200 slipping into the red, while Nifty Midcap 100 traded with marginal gains. The India VIX, which measures volatility in the market, dropped 3.5% to 12.92, indicating improving investor confidence despite the mixed market performance. Technically, Ponmudi R, CEO of Enrich Money, noted that "A sustained breakout above 24,200 would reinforce bullish momentum and could pave the way for a move towards 24,400, followed by 24,600", while 24,000 remains the key support to watch heading into the final two hours of trade.
