Sensex jumps 1,187 points, Nifty gains 348 amid hopes of US–Iran tensions ease

Indian equity markets ended sharply higher on Wednesday, with benchmark indices rallying on optimism over a possible de-escalation in US–Iran tensions. The BSE Sensex surged 1,186.77 points to close at 73,134.34, while the Nifty 50 rose 348 points to settle at 22,679.40, snapping a two-day losing streak.

Markets opened strong and maintained momentum for most of the session, driven by improved global sentiment after indications that geopolitical tensions in West Asia could ease. However, indices gave up part of their intraday gains in the latter half as optimism moderated slightly. Still, the overall sentiment remained positive, supported by gains across broader markets.

Sectorally, PSU banking stocks led the rally, with strong buying interest seen across financials and capital market-linked stocks. Broader indices outperformed the benchmarks, as midcap and smallcap stocks registered significant gains. Among key movers, State Bank of India rose around 5%, while stocks like Trent, InterGlobe Aviation, and Adani Ports also emerged as top gainers. On the other hand, healthcare and pharma stocks ended in the red.

Global cues further boosted investor confidence, with major Asian markets and Wall Street indices posting strong gains. Commodity prices also played a role, as rising crude oil and precious metals reflected ongoing global uncertainties, even as hopes of easing conflict supported risk appetite.

Overall, the rally reflects cautious optimism among investors, with market direction continuing to hinge on geopolitical developments and global economic signals in the coming days.