MUMBAI — Indian stock markets posted their strongest rally of the year so far on Wednesday, with benchmark indices soaring as easing geopolitical tensions and steady domestic policy boosted investor confidence.
The Sensex jumped 2,946.32 points, or 3.95 percent, to close at 77,562.90, while the Nifty rose 873.70 points, or 3.78 percent, to settle at 23,997.35. The gains marked the fifth consecutive session of advances for both indices.
The rally was fueled in part by signs of cooling global tensions, after U.S. President Donald Trump said Washington would pause a planned strike on Iran’s infrastructure for two weeks, easing concerns in global markets.
At home, the Reserve Bank of India helped anchor sentiment by keeping key interest rates unchanged in its April monetary policy review. The central bank maintained the benchmark repo rate at 5.25 percent and retained a neutral policy stance. The Marginal Standing Facility rate and the Standing Deposit Facility rate were also left unchanged at 5 percent and 5.5 percent, respectively.
Market breadth remained strong, with broader indices outperforming. The Nifty MidCap index climbed 4.03 percent, while the Nifty SmallCap index rose 4.39 percent, reflecting widespread buying across segments.
Among sectoral indices, real estate and automobile stocks led the gains, pushing the Nifty Realty and Nifty Auto indices higher. The Nifty IT index lagged behind, posting the smallest gains among sectors.
Key gainers on the Nifty included Shriram Finance, Tata Motors Passenger Vehicles, and Adani Enterprises, which saw strong investor interest during the session.
Analysts said the combination of supportive domestic policy signals and improving global conditions created a favorable environment for equities.
From a technical perspective, analysts identified the 23,700–23,600 range as an immediate support zone for the Nifty. A break below this level could trigger profit booking, while a sustained move above the 24,500 resistance level would signal further upside potential.
With geopolitical risks easing and policy stability intact, market participants said the near-term outlook for Indian equities remains constructive, though volatility could persist depending on global developments. (Source: IANS)
