Stock Market Today: Dalal Street rallies sharply; Sensex crosses 77,000, Nifty reclaims 23,800

Stock Market Today: Indian equity benchmarks opened sharply higher on Wednesday, after the US and Iran agreed to a ceasefire, easing global geopolitical tensions

The BSE Sensex surged 2,494.68 points, or 3.34 per cent, to 77,111.26 at 09:15 am. The index opened at 77,290.63, compared to its previous close of 74,616.58.

The Nifty 50 also rallied 735 points, or 3.18 per cent, to 23,858.65. The index opened at 23,855.15 against its previous close of 23,123.65.

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RBI policy outcome in focus

On the domestic front, investors are awaiting the outcome of the Reserve Bank of India’s Monetary Policy Committee meeting, scheduled to be announced later today.

The central bank is widely expected to keep the repo rate unchanged. However, the policy commentary will be closely tracked for cues on the future rate trajectory and the impact of global uncertainties.

Ceasefire lifts global sentiment

Global sentiment improved after US President Donald Trump said Washington had agreed to halt the planned attack on Iran’s power plants and civilian infrastructure for two weeks.

The move was conditional on Iran reopening the Strait of Hormuz fully, a key global oil supply route.

Iran’s Foreign Minister Abbas Araghchi also said in a post on X that Tehran would cease its military operations, signalling de-escalation.

Asian markets surge, oil prices tumble

Asian markets rallied sharply on Wednesday morning following the ceasefire announcement.

Japan’s Nikkei 225 and South Korea’s Kospi surged around 5 per cent each, while other regional indices such as Hang Seng and Taiwan Weighted also posted gains of over 3 per cent.

The easing of tensions triggered a sharp fall in oil prices. Brent crude plunged over 13 per cent to around $94–95 per barrel as concerns over supply disruptions eased with the reopening of the Strait of Hormuz.

On Wall Street overnight, gains were modest. The S&P 500 and Nasdaq Composite ended marginally higher, while the Dow Jones Industrial Average also closed with small gains.

Meanwhile, safe-haven demand supported precious metals. Gold rose over 2 per cent, while silver surged more than 6 per cent.

Broad-based rally led by rate-sensitive stocks

Back home, the rally was broad-based, led by rate-sensitive and cyclical sectors.

The Nifty Realty index jumped over 5 per cent. Auto, PSU banks and private banks gained 3–4 per cent each in early trade.

Among Nifty gainers, InterGlobe Aviation rose about 9 per cent, while Larsen & Toubro gained over 7 per cent. Shriram Finance, Adani Ports and Adani Enterprises advanced 5–6 per cent.

Financial stocks also saw strong recovery. Bajaj Finance and Bajaj Finserv rose 4–5 per cent, while Asian Paints and UltraTech Cement traded with solid gains.