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Market sentiment improved after U.S. President Donald Trump indicated the Iran conflict could end sooner than expected, but warned Tehran would face retaliation “20 times harsher” if it disrupts oil shipments through the Strait of Hormuz.
Indian equity benchmarks Sensex and Nifty50 extended their gains
New Delhi: Indian equity benchmarks Sensex and Nifty50 extended their gains in afternoon trading on Tuesday supported by improved global sentiment after indications that tensions between the United States and Iran could ease soon.
At the closing bell, the BSE Sensex closed higher by 640 points (up 0.8%). Meanwhile, the NSE Nifty closed 233 points higher (up 0.9%). M&M, Maruti Suzuki, Tata Steel are among the top gainers today.
Global Market Rout: Sensex plunges 1,900 points as geopolitical tensions rattle stocks
Market sentiment strengthened after US President Donald Trump suggested that the conflict with Iran may conclude sooner than expected. However, he also warned that Iran would face consequences “20 times harsher” if it attempts to disrupt oil shipments through the Strait of Hormuz a Crucial route for global energy supplies.
The India VIX, widely regarded as the market’s fear gauge, fell 15.24% to 19.80 in early trade, signalling reduced volatility expectations among investors. Among the Nifty50 stocks, Shriram Finance, InterGlobe Aviation, Eicher Motors, and Mahindra & Mahindra were among the top gainers during the session.
The broader market outperformed the benchmark indices, with the Nifty MidCap index rising 1.34% and the Nifty SmallCap index advancing 1.74%. On the sectoral front, the Nifty Auto index emerged as the top performer, gaining 2.10%, while the Nifty IT index declined 0.94%, making it the weakest sector in the market. Global markets also showed mixed trends.
In Asia, South Korea’s Kospi surged more than 6%, leading the regional rally, while Japan’s Nikkei 225 jumped over 5%.
US stock futures traded slightly lower, with Dow Jones futures down 0.22% and S&P 500 futures slipping 0.25%, despite the previous session ending higher. Overnight, the Dow Jones Industrial Average gained 0.5%, while the S&P 500 rose 0.83%. In the commodities market, Brent crude oil prices dropped sharply by around 11% to $88.05 per barrel on Tuesday, following Trump’s remarks.
As of 7:20 AM, Brent crude was trading 10.37% lower at $88.70 per barrel, according to Bloomberg data.Meanwhile, gold and silver futures moved higher as the US dollar index weakened, supported by hopes of easing tensions between the US and Iran. Gold futures rose 1.55%, while silver futures jumped 6.06%.
