Stock Market Today: Nifty, Sensex Jump 3.5% As US-Iran Ceasefire Lifts Sentiment, All Eyes On RBI MPC Outcome
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Stock Market Today: The Indian stock market staged a sharp rebound on Wednesday, April 8, with benchmark indices surging nearly 3.5% at the opening bell. Strong stock market opening today came as investors cheered easing geopolitical tensions following the Iran-US ceasefire. Improved global sentiment lifted risk appetite, pushing the Nifty 50 and Sensex 3.5%. InterGlobe Aviation, L&T, Adani Enterprises, Shriram Finance, and Asian Paints were among the top Nifty 50 gainers.
The stock market recovery has also come ahead of the Rserve Bank of India’s Monetary Policy Committee conclusion, scheduled for Wednesday. The RBI Governor Sanjay Malhotra will announce RBI MPC meeting conclusion today at 10 am. The RBI MPC is likely to keep the repo rate unchanged at 5.25%, as per Goodreturns RBI MPC poll.
Stock Market Today: Top Gainers, Top Losers
IndiGo, LT, Bajaj Finance, Adani Enterprise, Shriram Finance, Tata Motors Private Vehicles, were among the top performers in Nifty 50 in the first thirty minutes of the stock market opening. Whereas, ONGC, Coal India, Tech Mahindra, Wipro were among the top laggards on Nifty 50 today.
Broad Market Indices in Green
Broad market indices also opened stronger with Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty Midcap 100 surging more than 3%. Additionally, Nifty Midcap 150, Nifty Smallcap 50, Nifty Smallcap 250, Nifty Midscmallcap 400 were also trading above 2.5%.
India Vix Down 18%
As the Indian stock market today staged a sharp recovery, India Vix was down close to 18% by 9:30 am. The sharp decline in India Vix indicated less volatility in the Indian stock market in the current trading session.
Earlier, Gift Nifty jumped close to 800 points after Donald Trump announced a two-week ceasefire between the US-Israel-Iran war in the Middle East. Nifty 50 was up close to 3.16% in the pre opening session with nearly all the sectoral indices trading in green. Whereas, BSE Sensex was up 2,681 points.
The Indian stock market ended in green on Tuesday, April 7, after a heavily volatile trading session amid concerns around the Iran-US war. Nifty 50 ended higher.
“The benchmark indices extended gains for the fourth consecutive session on April 7, supported by a marginal cooling in crude oil prices from $111.80 to $109 per barrel and strong buying interest in IT stocks, even as volatility persisted due to Nifty’s weekly expiry. At close, the Sensex advanced 509.73 points, or 0.69%, to settle at 74,616.58, while the Nifty gained 155.40 points, or 0.68%, to close at 23,123.65,” noted Bajaj Broking in its closing commentary.
Iran-US Ceasefire
US President Donald Trump, on Wednesday, announced that air strikes on Iran would pause for two weeks. The pause depended on Iran reopening the Strait of Hormuz without conditions. Trump wrote on Truth Social that the suspension came after appeals from Pakistan’s Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, if Iran ensured the “complete, immediate, and safe” reopening of the key shipping route.
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