Closing Bell: Sensex Jumps 1,263 Points, Nifty 50 Gains 388 Points to Close Above 24,200 as Oil Slips Below $100

Market Update at 04:04 PM: The benchmark equity indices, Sensex and Nifty 50, ended Wednesday, April 15, on a strong note, surging over 1.5 per cent amid easing crude oil prices and rising expectations of a resumption in U.S.–Iran peace negotiations. The positive global cues lifted investor sentiment across the board.

The Nifty volatility index declined to 18.67 from 20.5 recorded on Monday, signalling reduced market uncertainty. Heavyweight stocks supported the rally, with HDFC Bank and Reliance Industries gaining 1.91 per cent and 2.21 per cent, respectively.

The Nifty 50 opened with a gap-up of 321 points and sustained momentum throughout the session, eventually closing above its 50-DEMA. By the end of the day, the index rose 388.65 points, or 1.63 per cent, to settle at 24,231.30, holding firmly above the 24,200 mark. The Sensex advanced 1,263.67 points, or 1.64 per cent, to close at 78,111.24. Meanwhile, the Bank Nifty underperformed the frontline indices, rising 1.25 per cent to settle at 56,301.95.

Crude oil prices eased below the USD 100 mark after hitting those levels earlier in the week. West Texas Intermediate (WTI), the U.S. benchmark, declined 0.3 per cent to USD 91.01 per barrel, while Brent crude, the international benchmark, edged up 0.2 per cent to USD 95 per barrel. The movement comes as investors remain hopeful about a potential agreement between the U.S. and Iran to ease geopolitical tensions.

On the sectoral front, all 11 major indices ended in the green, indicating broad-based buying interest. The Nifty IT index emerged as the top performer, gaining 2.84 per cent and snapping a two-day losing streak, with all its constituents closing higher. Notably, all sectors registered gains of over 1 per cent.

In the broader market, performance remained mixed. The Nifty Midcap and Nifty Smallcap 100 indices underperformed relative to the benchmarks, declining 2.20 per cent and 2.35 per cent, respectively.

Among stock-specific movements, budget airline IndiGo gained 4.76 per cent despite being impacted by air traffic curbs linked to the Iran conflict. On the other hand, Ujjivan Small Finance Bank declined 3 per cent after the Reserve Bank of India rejected its application for a universal banking licence, citing the need for greater diversification in its loan book.

Market breadth remained firmly positive. Out of 3,361 stocks traded on the NSE, 2,839 advanced, 438 declined, and 84 remained unchanged. A total of 105 stocks hit their 52-week highs, while 7 touched 52-week lows. Additionally, 185 stocks were locked in Upper Circuits, whereas 30 stocks were locked in Lower Circuits.

Market Update at 2:35 PM: The Indian equity benchmarks, Nifty 50 and Sensex, retreated from their Intraday highs on account of selling pressure in heavyweight stocks such as ICICI Bank and Dr. Reddy’s Laboratories. However, optimism surrounding a potential resolution between the U.S. and Iran helped limit the downside and prevented a sharp sell-off.

At the time of reporting, the Nifty 50 was trading 1.59 per cent or 379.20 points higher at 24,224.35, while the Sensex gained 1.58 per cent or 1,217.73 points to trade at 78,065.30.

Market volatility cooled significantly, with the Nifty India Volatility Index (VIX) declining 15.4 per cent to 17.34 shortly after the opening bell. The drop in VIX indicates easing concerns around near-term market fluctuations and improved investor sentiment.

Broader markets outperformed the frontline indices, with the Nifty MidCap index rising 1.93 per cent and the Nifty SmallCap index advancing 2.16 per cent. The strong performance in mid- and Small-Cap stocks reflects continued buying interest beyond Large-Cap counters.

On the sectoral front, Nifty Financial Services Ex Bank, Nifty Construction Durable, and Nifty Realty emerged as the Top Gainers, driven by broad-based buying. In contrast, the Nifty PSU Bank index lagged and stood out as the worst-performing sector during the session.

Market Update at 12:33 PM:The Indian equity benchmarks, Nifty 50 and Sensex, retreated from their intraday highs on account of selling pressure in heavyweight stocks such as ICICI Bank and Dr. Reddy’s Laboratories. However, optimism surrounding a potential resolution between the U.S. and Iran helped limit the downside and prevented a sharp sell-off.

At the time of reporting, the Nifty 50 was trading 1.59 per cent or 379.20 points higher at 24,224.35, while the Sensex gained 1.58 per cent or 1,217.73 points to trade at 78,065.30.

Market volatility cooled significantly, with the Nifty India Volatility Index (VIX) declining 15.4 per cent to 17.34 shortly after the opening bell. The drop in VIX indicates easing concerns around near-term market fluctuations and improved investor sentiment.

Broader markets outperformed the frontline indices, with the Nifty MidCap index rising 1.93 per cent and the Nifty SmallCap index advancing 2.16 per cent. The strong performance in mid- and small-cap stocks reflects continued buying interest beyond large-cap counters.

On the sectoral front, Nifty Financial Services Ex Bank, Nifty Construction Durable, and Nifty Realty emerged as the top gainers, driven by broad-based buying. In contrast, the Nifty PSU Bank index lagged and stood out as the worst-performing sector during the session.

Market Update at 09:35 AM: Indian equity benchmarks surged in early trade on positive global cues, as optimism grew around easing geopolitical tensions between the U.S. and Iran. Sentiment improved after Donald Trump indicated that the conflict with Iran could be nearing resolution.

As of 9:16 AM, the Nifty 50 was trading 1.61 per cent, or 392.75 points higher, at 24,237.70. The BSE Sensex advanced 1.70 per cent, or 1,303 points, to 78,150.54.

Broader markets outperformed the frontline indices, with the Nifty MidCap rising 2.09 per cent and the Nifty SmallCap gaining 2.10 per cent.

Sectorally, the Nifty PSU Bank and the Nifty IT indices led the gains, reflecting strong buying interest. On the other hand, the Nifty Pharma index emerged as the worst-performing sector during the session.

In the commodities market, Brent crude prices declined in the Asian session. This came as traders anticipated a possible resolution to disruptions at the Strait of Hormuz amid ongoing U.S.–Iran talks. Brent crude’s April contract was trading 0.36 per cent lower at USD 94.45 per barrel.

Pre-Market Update at 7:48 AM: The benchmark indices of the Indian stock market, BSE Sensex and Nifty 50, are likely to open on a positive note on Wednesday, supported by strong global cues. Optimism around the resumption of U.S.–Iran talks and early signs of easing tensions in the Middle East are boosting overall market sentiment.

Asian markets were trading in the green, while U.S. equities rallied overnight, with the S&P 500 approaching its record closing levels. As of 7:29 am, GIFT Nifty hovered around 24,228, up by 350 points from the previous close of Nifty futures, indicating a strong start for Indian equity benchmarks.

From a global standpoint, developments around U.S.–Iran peace talks remain a key trigger. U.S. President Donald Trump stated that discussions to end the Iran conflict could resume in Pakistan within the next two days, highlighting that both sides are keen to reach a deal. Meanwhile, China has also indicated its willingness to work towards restoring peace and stability in the Middle East.

On the macroeconomic front, the International Monetary Fund has slightly upgraded India’s economic growth forecast for 2026–27 to 6.5 per cent from 6.4 per cent earlier, despite ongoing geopolitical tensions. However, it lowered its global growth outlook to 3.1 per cent for 2026, trimming it by 0.2 percentage points.

India’s retail inflation, measured by the Consumer Price Index, edged up to 3.4 per cent in March from 3.21 per cent in February but remains below the Reserve Bank of India target of 4 per cent, providing comfort to policymakers.

Crude oil prices declined for a second straight session on hopes that renewed U.S.–Iran talks could ease supply concerns. Brent crude slipped 0.37 per cent to USD 94.44 per barrel after a sharp 4.6 per cent fall, while U.S. WTI crude dropped 1.04 per cent to USD 90.33 following a steep 7.9 per cent decline earlier.

The U.S. dollar hovered near six-week lows as improving sentiment around potential negotiations boosted risk appetite. The dollar index stood at 98.109.

From a derivatives perspective, the Put-Call Ratio stands at 1.08, indicating a slightly bullish undertone. Significant open interest on the Put side is concentrated at 23,800 and 23,500 levels, marking strong support zones. On the Call side, heavy open interest at 24,000 and 24,500 levels suggests strong resistance.

Technically, immediate support for the Nifty 50 is seen in the 23,650–23,690 zone, while resistance lies between 23,950 and 24,000 levels.

In the derivatives segment, Sammaan Capital and Steel Authority of India Limited remain under the F&O ban for April 15.

Institutional flows showed mixed sentiment. Foreign Institutional Investors were net sellers, offloading equities worth Rs 1,983.18 crore, while Domestic Institutional Investors bought shares worth Rs 2,432.30 crore.

On Monday, the domestic market ended sharply lower after a holiday break. The Sensex fell 702.68 points, or 0.91 per cent, to close at 76,847.57, while the Nifty 50 declined 207.95 points, or 0.86 per cent, to settle at 23,842.65. Markets remained closed on Tuesday on account of Dr. Babasaheb Ambedkar Jayanti.

Wall Street ended its latest session on a strong note. The Dow Jones Industrial Average rose 317.74 points, or 0.66 per cent, to 48,535.99. The S&P 500 gained 1.18 per cent to close at 6,967.38, while the Nasdaq Composite surged 1.96 per cent to 23,639.08, marking its tenth consecutive day of gains. Major technology stocks such as Nvidia, Amazon, and Microsoft led the rally.

In commodities, gold and silver prices extended gains for a second straight session. Gold rose to USD 4,855 per ounce after a 2 per cent jump in the previous session, while silver climbed to USD 79 per ounce during Asian trading hours, supported by easing geopolitical concerns.

Disclaimer: The article is for informational purposes only and not investment advice.

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