Indian stock markets rallied for the second straight session on March 25, with Sensex jumping 1,205 points and Nifty crossing 23,300. Gains were driven by falling crude oil prices, positive global cues, and hopes of easing West Asia tensions, though the rupee remained under pressure near record lows
Representational image. File pic
Amid the hopes of de-escalation of the West Asia conflict, stock markets rallied for the second consecutive day on Wednesday. Benchmark indices Sensex and Nifty closed nearly 2 per cent higher, as crude oil prices dropped and global markets advanced.
Indian equities ended on a strong note on March 25, with Nifty closing above the 23,300 mark, supported by sustained buying interest and broad-based participation across sectors.
The gains were supported by a sharp decline in crude oil prices and positive cues from Asian markets, as optimism around a potential de-escalation in the West Asia conflict lifted overall sentiment and risk appetite.
On the contrary, the Indian rupee continued to remain under pressure, ending near a record low at 93.97 per dollar as compared to 93.87 in the previous session, reflecting ongoing currency weakness.
Sensex jumps 1,205 points
The 30-share BSE Sensex jumped 1,205 points or 1.63 per cent to settle at 75,273.45. During the day, it soared 1,781.31 points or 2.40 per cent to 75,849.76. Whereas the 50-share NSE Nifty surged 394.05 points or 1.72 per cent, to end at 23,306.45.
Broader markets continued to outperform the benchmarks, with the Nifty Midcap index rising 2.3 per cent and the Small Cap index climbing 2.6 per cent, highlighting improved risk appetite and continued traction in the broader market space.
Top losers and gainers
From the 30-Sensex firms, UltraTech Cement, Bajaj Finance, Larsen & Toubro, Titan, InterGlobe Aviation and Trent were the biggest gainers. Whereas Tech Mahindra, Power Grid, Tata Consultancy Services and Bharat Electronics were the laggards.
Expert opinion
Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services, while expressing his views, said, “Indian equities ended on a positive note, with the recovery driven by value buying following the recent sharp correction and supportive global cues. Sentiment improved on signs of easing geopolitical tensions, including reports of potential negotiations between Iran and the U.S., which provided some relief to markets.”
Khemka further added, “However, this relief is likely to remain conditional on incoming news flow and official commentary from both sides, with markets expected to stay sensitive to these cues and volatility likely to persist.”
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