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Sensex, Nifty Rebound as Trump Hints at Iran War End; Crude Falls

Indian equity benchmarks Sensex and Nifty opened significantly higher, gaining over 0.5% in early trade. The rally was triggered by US President Donald Trump's comments suggesting the conflict with Iran could be nearing an end, which led to a sharp decline in crude oil prices. Most sectoral indices traded in the green, with auto, pharma, and consumer durables leading the gains, while Asian and US markets also posted strong performances. Analysts note that markets will remain volatile, tracking geopolitical developments and oil price trends for direction.

Key Points: Markets Rally on Easing Iran War Fears, Crude Oil Price Drop

  • Markets rebound on geopolitical de-escalation
  • Crude oil prices dip over 10%
  • Broad-based gains across most sectors
  • Asian and US markets also trade higher
  • FIIs were net sellers, DIIs net buyers
2 min read

Sensex, Nifty rebound as US indicates Iran war nearing end; crude prices fall

Indian equity indices Sensex and Nifty surged as US President Trump indicated the Iran conflict could end soon, triggering a fall in crude oil prices.

"the war is 'complete' and will be over 'very soon' - Donald Trump"

Mumbai, March 10

The Indian equity markets made notable gains in the early trade on Tuesday after US President Donald Trump indicated that war with Iran may be approaching an end.

As of 9.29 am, Sensex added 413 points, or 0.53 per cent, to reach 77,979 and Nifty gained 112 points, or 0.47 per cent to reach 24,140.

Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 gained 1.05 per cent, and the Nifty Smallcap 100 added 1.32 per cent.

All sectoral indices traded in green except Nifty IT as well as oil and gas, down 0.54 per cent and 0.47 per cent, respectively. Nifty auto, pharma and consumer durables were among the top gainers, up 1.47 per cent, 1.28 per cent and 1.95 per cent, respectively.

Near-term resistance for Nifty is placed between 24,200 and 24,250, while strong support is seen in the 23,900-23,950 range. Resistance for Bank Nifty is seen between 56,300 and 56,400, while support is located in the 55,700-55,800 zone, market participants said.

Trump suggested that the US-Israel conflict with Iran could end soon, triggering a decline in crude oil prices and the US dollar, helping restore risk appetite across global markets.

Oil prices dipped over 10 per cent before partial rebound after Trump said he was considering seizing control of the Strait of Hormuz, also adding that the war is "complete" and will be over "very soon", according to multiple reports.

In Asian markets, China's Shanghai advanced 0.39 per cent, and Shenzhen added 1.57 per cent, Japan's Nikkei moved up 2.35 per cent, and Hong Kong's Hang Seng Index surged 1.76 per cent. South Korea's Kospi gained 4.8 per cent.

The US markets ended in green overnight as Nasdaq added 1.38 per cent. The S&P 500 gained 0.83 per cent, and the Dow Jones advanced 0.5 per cent.

In the near term, markets are likely to remain volatile with investors closely tracking geopolitical developments, crude oil trends, and global risk sentiment for clearer directional signals, analysts said.

On March 9, foreign institutional investors (FIIs) in India net sold equities worth Rs 6,345 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 9,013 crore.

- IANS

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Reader Comments

P
Priya S
Good to see the markets bouncing back, especially auto and pharma sectors. But I'm a bit skeptical about Trump's statements... they can change overnight. Our markets shouldn't be so reactive to every tweet from abroad. We need more domestic stability.
A
Arjun K
Finally some good news! My SIPs were looking red for the past few days. The FII selling was worrying, but strong DII buying shows domestic confidence. Time to maybe add a little more to my mid-cap fund? 🤔
S
Sarah B
As someone working in the energy sector, the volatility in crude is nerve-wracking. A stable Hormuz is crucial for global supply chains. Hope the de-escalation is real and lasting, not just political posturing.
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Vikram M
The rally in Asian markets, especially South Korea's 4.8% jump, is very encouraging. It shows global risk appetite is returning. But the article rightly points out volatility will continue. Retail investors should avoid panic buying or selling.
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Nikhil C
While the short-term boost is welcome, our long-term growth cannot depend on external geopolitical winds. We need stronger domestic fundamentals and policies that shield the economy from such external shocks. Jai Hind!

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