Stock Market Today: Dalal Street bulls push Sensex past 78,100; Nifty climbs above 24,200

Stock Market Today: Indian equity benchmarks opened higher on Tuesday, tracking gains in Asian markets and improving global sentiment after comments from Donald Trump suggesting the Iran conflict could end soon.

At 9:16 am, the BSE Sensex was trading at 78,155.96, up 589.80 points or 0.76 per cent. The index opened higher at 78,375.73, compared with the previous close of 77,566.16.

The Nifty 50 rose 202.75 points or 0.84 per cent to 24,230.80, after opening at 24,280.80 against its previous close of 24,028.05.

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Trump signals possible end to Iran conflict

Global sentiment improved after Donald Trump signalled that the war with Iran may come to an end soon.

Trump also warned that Iran would face consequences “20 times harder” if it attempts to block oil supply through the Strait of Hormuz, a key global crude shipping route.

The comments helped ease concerns about supply disruptions in global oil markets and reduced fears of a prolonged geopolitical crisis.

Volatility eases

The Nifty India Volatility Index, also known as India VIX, declined 11.82 per cent to 20.60.

The fall in the volatility gauge indicates that near-term market volatility expectations among investors have eased.

Top gainers and sectoral trends

Among Nifty 50 stocks, InterGlobe Aviation, Shriram Finance, and Asian Paints were the top gainers in early trade.

Broader markets outperformed the benchmarks. The Nifty MidCap 100 and Nifty SmallCap 100 were trading 1.31 per cent and 1.27 per cent higher, respectively.

Sector-wise, the Nifty Consumer Durables Index was the top performer with nearly 2 per cent gains. The Nifty IT Index underperformed the other sectoral indices.

Global cues: US and Asian markets rally

Global markets also supported sentiment. US equities rebounded sharply from lower levels overnight. The Dow Jones Industrial Average jumped around 1,150 points, while the Nasdaq Composite surged nearly 700 points.

The rally came as investors reacted to signals that the geopolitical conflict could ease soon. Falling crude oil prices also helped reduce inflation concerns, while the rally in the US Dollar Index paused.

Asian markets extended the gains in Tuesday’s trade, further boosting risk appetite in global equities.

FII–DII activity

Foreign institutional investors (FIIs) remained cautious.

FIIs’ index futures long position declined for the second straight session to 12.35 per cent from 12.91 per cent.

This marks the lowest level since 2 February.

In the cash market, FIIs sold equities worth Rs 6,346 crore on Monday, marking their seventh straight day of selling.

Across cash, index futures, and stock futures, FIIs were net sellers of Rs 7,401 crore.

Domestic institutional investors (DIIs), however, continued to support the market. Domestic funds bought equities worth Rs 9,014 crore, extending their buying streak to nine consecutive sessions.