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Informist, Wednesday, Apr. 8, 2026

 

By Arya S. Biju

 

MUMBAI – Benchmark equity indices rallied nearly 4% as the market cheered the two-week ceasefire between the US and Iran, announced by US President Donald Trump earlier in the day. While there are still concerns over the possibility of a long-term resolution of the US-Iran war, the temporary ceasefire lifted risk appetite globally, driving the bulls to charge again. The markets rally was driven by a sharp fall in crude oil prices, strengthening of the rupee against the dollar, and a notable decline in the 10-year bond yields, analysts said. Further, the decision of the Reserve Bank of India's Monetary Policy Committee to hold the repo rates steady at 5.25%, as expected, also supported the sentiment.  

 

The Nifty 50 index settled at 23997.35, up 873.70 points or 3.8%, marking the sharpest single-day rise in almost a year. The last time the 50-stock index rose more than 3.8% was in May 2025. The BSE Sensex ended at 77562.90, up 2946.32 points or 3.9%, the highest single-day rise since February 2021. 

The June futures contract of Brent Crude plunged 16% to a low of $91.70 per barrel, reacting to the ceasefire announcement, but later came slightly off lows and traded at around $95 per barrel level at 1558 IST. US President Trump in a social media post early Wednesday said he had agreed to suspend attacks on Iran for two weeks in exchange for Tehran allowing safe passage through the Strait of Hormuz. Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi said on social media that Tehran will agree to a ceasefire "if attacks against Iran are halted," adding that it will allow safe passage through the critical waterway during the ceasefire. 

 

However, uncertainty still persists regarding the durability of the ceasefire and reopening of key supply routes, analysts said. It's "very early to say whether the war will end," Vikas Gupta, chief executive officer and chief investment strategist at OmniScience Capital, said. "There could be a lot of changes in stance from either side...during the two weeks itself and even after two weeks." Going forward, he does not expect a significant rally in the market unless there is confirmation that the US-Iran war has ended. 

 

India VIX, the fear gauge of Dalal Street, dropped over 20% to close at 19.6975 Wednesday, indicating that the market is taking a breather following the sharp declines since the beginning of the US-Iran war. "The India VIX has completed a price-wise corrective phase. Now, it will be in pullback phase for the next two weeks," Ruchit Jain, head of technical research at Motilal Oswal Financial Services, said. So far, since the war began Feb. 28, the volatility index has risen around 44%. 

 

The broader market indices also staged a sharp rally, with mid-cap indices rising around 4?ch, similar to that of their benchmark peers. The Nifty Smallcap 50 and Nifty Smallcap 100 indices, on the other hand, rose 4.4–4.6%, outpacing the near 4% rise in the benchmarks. 

 

All sectoral indices closed in the green, with rate-sensitive sectors like real estate, automobiles, banks and financial services leading the gains. In contrast, pharmaceutical and healthcare stocks, which were tagged as defensive when the broader market was under pressure amid the West Asia war, only saw slight gains compared to other sectors. 

 

Shares of automobile and auto ancillary companies surged on the back of lower crude oil prices and amid hopes that the temporary ceasefire will turn into lasting peace in West Asia and drive down input costs for the industry. Supply disruptions in the Strait of Hormuz since the beginning of West Asia war had stoked fears of higher input costs for the industry, but with the ceasefire in place, investor worries have been slightly soothed, analysts said. 

 

Shares of aviation companies such as InterGlobe Aviation and Spicejet also rose 8% and 5%, respectively, after the ceasefire news. Airline companies are among the biggest beneficiaries of falling crude prices, given that aviation turbine fuel is a key cost component for airlines. Other crude-sensitive stocks such as oil marketing companies, paint and tyre makers also rallied Wednesday.

 

Shares of Adani group companies ended higher after a US court granted the conglomerate's request to schedule a hearing to dismiss a fraud case filed by the US Securities and Exchange Commission. In its petition, the group sought dismissal of the lawsuit saying that the US court lacks the jurisdiction to try the matter and also because the case fails on multiple grounds, according to media reports. Among individual stocks, Shriram Finance rose around 10?ter the company said it allotted 471.12 million shares to Mitsubishi UFJ Financial Group, a subsidiary of MUFG Bank, at INR 840.93 per share, amounting to INR 396.18 billion.

 

* Of the Nifty 50 stocks, 41 rose and 9 fell

* Of the Sensex stocks, 27 rose and 3 fell

* On the NSE, 2,960 stocks rose, 341 fell, and 68 were unchanged

* On the BSE, 3,832 stocks rose, 575 fell, and 90 were unchanged

* Nifty Realty : up 6.8%; Nifty Auto: up 6.7%; Nifty IT: up 0.5%

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BSE                                                NSE

Sensex: 77562.90, up 2946.32 points or 3.9%      Nifty 50: 23997.35, up 873.70 points or 3.8%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 86159.02 (Dec. 1, 2025)	: Lifetime High: 26373.20 (Jan. 5, 2026)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26328.55 (Jan. 2, 2026)
2026 1st day close: 85188.60 (Jan. 1)	: 2026 1st day close: 26146.55 (Jan. 1)
2026 Closing High: 85762.01 (Jan. 2)	: 2026 Closing High: 26328.55 (Jan. 2)
2026 Closing Low: 71947.55 (Mar. 30)	: 2026 Closing Low: 22331.40 (Mar. 30)
2026 High (intraday): 85883.50 (Jan. 5)	: 2026 High (intraday): 26373.20 (Jan. 5)
2026 Low (intraday): 71545.81 (Apr. 1)	: 2026 Low (intraday): 22182.55 (Apr.2)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 85720.38 (Nov. 27)	: 2025 Closing High: 26215.55 (Nov. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 86159.02 (Dec. 1)	: 2025 High (intraday): 26325.80 (Dec.1)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

US$1 = INR 92.5800

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

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