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Sensex, Nifty Surge on Peace Hopes
2 Apr
Summary
- Indian stock indices Sensex and Nifty surged significantly on Wednesday.
- Hopes for de-escalation in West Asia conflict fueled global market sentiment.
- Foreign Institutional Investors were net sellers, while Domestic Institutional Investors were net buyers.
Indian equity benchmarks, Sensex and Nifty, surged significantly in early trade on Wednesday, tracking a robust rally in global markets. This upward movement was primarily driven by growing optimism surrounding a potential de-escalation of the West Asia conflict. The 30-share BSE Sensex jumped 1,899.53 points to 73,847.08, while the 50-share NSE Nifty saw a substantial increase of 572.55 points, reaching 22,903.95.
Positive sentiment in Asian markets, including South Korea's Kospi and Japan's Nikkei 225, also contributed to the rally. Statements from Iranian authorities suggesting openness to ending the war, coupled with exchanges of messages with the US, fueled expectations of a resolution. This perception was reflected in declining crude oil prices and US bond yields. Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,163.06 crore on Monday, whereas Domestic Institutional Investors (DIIs) were net buyers, purchasing stocks worth Rs 14,894.72 crore.
