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HomeMarket NewsClosing bell | Dalal Street adds ₹16 lakh crore on Iran ceasefire; relief rally across sectors
Markets surged on the US-Iran ceasefire, with investors gaining nearly ₹16 lakh crore in a single session as Nifty neared 24,000 and broad-based buying lifted all sectors.
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Indian stock markets rallied sharply on the back of a US-Iran ceasefire on Wednesday, with benchmarks logging one of their strongest sessions in recent months amid a broad-based risk-on sentiment.
The Sensex surged 2,946 points to close at 77,563, while the Nifty jumped 874 points to settle at 23,997 after briefly crossing the 24,000 mark for the first time in a month.
The rally translated into a sharp wealth creation, with the market capitalisation of BSE-listed companies rising by nearly ₹16 lakh crore in a single session.
Gains were seen across sectors, with banking stocks leading the charge as cooling bond yields supported financials. The Nifty Bank index rose nearly 3,000 points, marking its biggest single-day gain in five years.
Crude-sensitive sectors also saw strong buying interest after oil prices declined sharply following the ceasefire announcement. Oil marketing companies and airlines rose up to 10%, while upstream oil producers lagged the broader rally.
Auto stocks rebounded strongly, with the Nifty Auto index climbing 7%, and NBFCs surged, led by gains in Bajaj Finance, Shriram Finance and Cholamandalam Investment.
Market breadth remained firmly positive, with an advance-decline ratio of 11:1, reflecting widespread participation.
Meanwhile, the rupee strengthened to 92.58 against the US dollar, supported by easing crude prices, which reduced pressure on India’s import bill and improved overall macro sentiment.
