Stock Market Today LIVE: The Indian stock market rallied on Wednesday, April 1, following a surge in global markets, amid hopes that the US-Iran war in the Middle East can end soon. It comes after the US President Donald Trump said the Middle East conflict could end within three weeks, while Iran’s president said Tehran had “the necessary will” to bring the crisis to an end. The remarks boosted investor sentiment across the region, even as the dollar remained under pressure and Treasuries extended their gains.
The Sensex jumped over 2,000 points, or 2.8%, to an intraday high of 73,965, while the NSE counterpart Nifty 50 rose by more than 600 points, or 2.7%, to the day’s high of 22,941. The mid and small-cap indices on the BSE surged up to 4%.
Investors earned ₹13 lakh crore as the overall market capitalisation of BSE-listed firms rose to ₹425 lakh crore from ₹412 lakh crore in the previous session.
Asian Markets Today
Asian stocks also rallied on the potential de-escalation of the US-Iran war. However, crude oil prices continued to rise amid lingering concerns over a potential closure of the strategic Strait of Hormuz, a key artery for global oil supplies.
Brent crude slipped below $100 a barrel after declining 3.2% on Tuesday, while West Texas Intermediate was trading near $98 a barrel.
The economic impact of the conflict also intensified. Average US gasoline prices climbed above USD 4 a gallon for the first time in four years, inflation in Europe surged, and governments rolled out support measures to cushion the fallout.
The MSCI Asia Pacific Index rose 3.7%, with more than eight stocks advancing for every one that declined. Japan’s Topix jumped 3.6%, Australia’s S&P/ASX 200 gained 1.7%, Hong Kong’s Hang Seng advanced 1.9%, and China’s Shanghai Composite added 1.2%. Meanwhile, Euro Stoxx 50 futures rose 1.8%, while S&P 500 futures were up 0.2% as of 10:46 a.m. Tokyo time.
Stay tuned to this segment for live updates on the Indian stock market today.