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Sensex, Nifty Soar on Easing Oil Prices and Positive Global Cues

Indian equity benchmarks extended their gains for a second consecutive session, driven by softer crude oil prices and positive global cues. The rally was broad-based, with midcap and smallcap indices outperforming the main benchmarks. Sectorally, consumer durables, real estate, and PSU banks led the advance, while the IT sector underperformed. Analysts attributed the improved sentiment to hopes of easing geopolitical tensions, particularly signals of a potential pause in the US-Iran conflict.

Key Points: Sensex, Nifty Gain on Softer Oil, Global Cues

  • Nifty gains 1.72%
  • Sensex rises 1.63%
  • Broader markets outperform
  • Consumer durables lead rally
  • IT sector lags
2 min read

Sensex, Nifty extend gains on softer oil prices, global cues

Indian stock markets extend gains as easing oil prices and positive global cues boost investor sentiment. Nifty closes above 23,300.

"Going ahead, 23300-23350 remains a critical zone. Sustaining above this range could provide short-term stability - Market Expert"

Mumbai, March 25

Indian stock markets ended higher for the second straight session on Wednesday, supported by easing oil prices and positive global cues.

Investor sentiment improved after US President Donald Trump reiterated that talks are ongoing to bring an end to the conflict in the Middle East.

The benchmark indices saw strong gains, with the Nifty rising 1.72 per cent, or 392.70 points, to close at 23,306.45.

The Sensex also advanced 1.63 per cent, or 1,205 points, to settle at 75,273.45.

"Going ahead, 23300-23350 remains a critical zone. Sustaining above this range could provide short-term stability, while failure to hold may invite renewed selling pressure," a market expert stated.

"On the upside, 23500-23600 continues to act as a strong supply zone, followed by 23800. On the downside, 23000 remains a crucial support backed by strong demand and OI build-up, with 22900 as the next support in case of weakness," an analyst added.

Tech Mahindra, Power Grid and TCS was major laggards on Sensex. On the upside, Bajaj Finance, Titan, IndiGo, Trent, Mahindra and Mahindra was among top gainers on the 30-share pack.

Broader markets performed even better than the main indices. The Nifty MidCap index gained 2.30 per cent, while the SmallCap index jumped 2.59 per cent.

Among sectors, consumer-focused stocks led the rally, with the Nifty Consumer Durables index emerging as the top gainer.

Real estate and public sector bank stocks also saw solid gains, outperforming most other sectors during the session.

However, the IT sector lagged behind the broader market, with the Nifty IT index ending lower compared to its peers.

Analysts said that the market rally was driven by hopes of easing geopolitical tensions and softer oil prices, which boosted investor confidence across sectors.

"The primary trigger for improved sentiment was emerging signals of a potential pause in the ongoing US-Iran conflict," a market expert mentioned.

- IANS

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Reader Comments

P
Priya S
While the gains are welcome, I'm a bit concerned. The article mentions IT lagging behind. As someone whose family depends on the IT sector, these global tensions and their impact on our tech exports worry me. The rally needs to be more broad-based for true stability.
R
Rohit P
Midcap and Smallcap jumping over 2.5%! That's where the real action is for retail investors like me. Much better than the Sensex giants sometimes. Hope the momentum continues. Bajaj Finance and Titan leading the charge – solid picks!
S
Sarah B
Interesting to see global politics having such a direct impact on Mumbai's markets. The analyst's levels (23300-23350 zone) are crucial to watch. It feels like the market is on a knife's edge, reacting to every international headline. Requires careful investing.
V
Vikram M
Public sector banks and real estate doing well is a very good sign for the domestic economy. Shows confidence in our own policies and growth story, not just global factors. Hope the government keeps up the reform momentum. Jai Hind!
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Kavya N
As a long-term investor, these short-term swings based on oil and geopolitics are noise. The key is strong companies with good fundamentals. Happy to see my SIP in a midcap fund did well today! 😊 Stay invested, ignore the daily volatility.

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