Market cheers ceasefire in biggest rally this year so far, Sensex jumps nearly 2,950 points

Indian stock markets extended their rally for the fifth straight session, with both the Nifty and the Sensex posting strong gains.  

The positive momentum came amid easing global tensions and steady domestic policy signals.

The Nifty closed 3.78% higher, gaining 873.70 points to end at 23,997.35. Meanwhile, the Sensex surged 3.95%, rising 2,946.32 points to settle at 77,562.90.

Commenting on Nifty technical outlook, experts said that from a technical standpoint, the 23,700–23,600 zone remains a key immediate support.

“A breakdown below this range could trigger profit booking. On the upside, a decisive breakout above the 24,500 resistance zone is required to confirm continuation of the current uptrend and unlock further upside potential,” an analyst stated.

Investor sentiment improved significantly after geopolitical concerns showed signs of cooling and the central bank maintained policy stability.

Among the top performers in the Nifty index were Shriram Finance, Tata Motors Passenger Vehicles, and Adani Enterprises, which saw strong buying interest.

Broader markets also participated in the rally. The Nifty MidCap index climbed 4.03%, while the Nifty SmallCap index rose 4.39%.

On the sectoral front, the Nifty Realty and Nifty Auto indices led the gains -- reflecting strong performance in real estate and automobile stocks.

However, the Nifty IT index lagged behind and recorded the smallest gains among sectors.

Domestically, the Reserve Bank of India provided stability by keeping key interest rates unchanged in its April monetary policy review.

The Monetary Policy Committee decided to maintain the benchmark repo rate at 5.25% and continued with its neutral policy stance.

The Marginal Standing Facility (MSF) rate and the Standing Deposit Facility (SDF) rate were also left unchanged at 5% and 5.5%, respectively.

Global cues further supported market sentiment. President Donald Trump announced that the United States had agreed to pause a planned attack on Iran’s infrastructure for two weeks.

Analysts said that a combination of supportive domestic policy and improving global conditions helped drive the strong rally in Indian equities.

(This story was taken from syndicated feed and was only edited for style by Gujarat Samachar Digital team)