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Mumbai, April 8: The Indian stock market opened significantly higher on Wednesday, the third trading day of the week, following a ceasefire agreement between the United States and Iran. The Nifty 50 and Sensex both recorded gains of over 3%.
The Sensex surged by 2,674.05 points or 3.58% to open at 77,290.63, while the Nifty 50 began the day with a jump of 731.50 points or 3.2%, reaching 23,855.15.
As of approximately 9:32 AM, the Sensex was trading at 77,275.31, reflecting a gain of 3.56% or 2,658.73 points, while the Nifty 50 was up by 3.34% or 772.95 points, trading at 23,896.60.
This market rally followed US President Donald Trump’s announcement of a two-week ceasefire, contingent on Iran reopening the Strait of Hormuz. Prior to this, the market had experienced declines over the last two trading sessions.
In early trading, all sectors showed positive momentum, with significant gains observed across the board. Notably, shares in real estate, automotive, banking, and pharmaceutical sectors rose by up to 6%.
The broader market also saw the Nifty Midcap Index increase by 3.25% and the Nifty Smallcap Index by 3.22%. Large-cap indices also experienced upward movement, while the India VIX fell by 19%.
Among the top gainers in the Nifty 50 pack were Indigo, L&T, Shriram Finance, Adani Ports, TMPL, M&M, Adani Enterprises, Bajaj Finance, and Maruti Suzuki. Conversely, shares of Coal India, ONGC, Tech Mahindra, Wipro, Sun Pharma, and Hindalco saw declines.
Traders and investors are also closely monitoring the Reserve Bank of India’s (RBI) announcement of its first bi-monthly monetary policy for the fiscal year 2027.
Analysts suggest that volatility may persist amid ongoing geopolitical concerns and continuous outflows of foreign capital. They advise traders to focus on risk management, consider buying on dips, and pay attention to specific stocks, especially in the IT, banking, and oil sectors, as global signals could influence market direction in the near future.
President Trump stated, “If Iran agrees to fully, promptly, and safely open the Strait of Hormuz, I will agree to suspend bombing and attacks on Iran for two weeks. This will be a mutual ceasefire.”
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
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