Precise Investors Editorial Team
Other Asian markets surged 4.2%, while Brent crude hovered near $105 a barrel
Indian shares rose on Wednesday, recovering from their sharpest decline in six years in March on signs of easing Middle East tensions.
The Nifty 50 gained 2.42% to 22,870.25 and the BSE Sensex advanced 2.52% to 73,766.35 as of 10:14 a.m. IST (04:44 a.m. GMT), their highest intraday jump in two months.
Other Asian markets surged 4.2%, while Brent crude hovered near $105 a barrel.
Momentum in markets is largely being driven by a decisive improvement in global risk sentiment, following encouraging signals around potential de-escalation in the ongoing West Asia conflict, said Hariprasad K, research analyst and founder of Livelong Wealth.
Signs of stability in the Middle East are supportive for India, given its reliance on energy imports. The volatility index dropped to 25.1 after hovering near its highest since June 2024 over the past two weeks.
A decline toward the 22 zone would indicate unwinding of fear-driven positions and a normalisation in market conditions, Hariprasad said.
The Nifty and Sensex shed more than 11% each in March, their worst monthly performance in six years, as higher crude prices linked to the Iran war weighed.
All 16 major sectors rose. Small-caps and mid-caps added 3% each.
Heavyweights HDFC Bank and Reliance Industries gained 2% each.
Larsen & Toubro, with higher Middle East exposure, rose 4%.
Budget airline IndiGo jumped 5% after it appointed industry veteran Willie Walsh as its new chief executive.
IT company Coforge climbed 5% after getting Reserve Bank of India’s nod for an overseas investment exceeding $1 billion to complete its $2.35 billion acquisition of U.S. AI firm Encora.
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