Markets Surge With Strong Rally, Nifty Near 24,000 & Sensex Jumps 2,674 Pts As ₹16.8 Lakh Crore Wealth Created

Mumbai: Indian stock markets opened with strong gains on Wednesday, supported by positive global cues and a sharp fall in crude oil prices. The Nifty rose to around 23,934, while the Sensex climbed to 77,291, gaining 3.5 percent and 3.58 percent respectively. During the day, the Nifty briefly crossed the 24,000 mark after 22 sessions.

Rs 16.8 lakh crore wealth created

The rally added massive wealth for investors. Market capitalisation increased from Rs 4,28,77,488 crore to Rs 4,45,61,875 crore, resulting in gains of about Rs 16.84 lakh crore in a single day. This sharp jump reflects strong buying interest across sectors.

Market movement through the day

The market opened with a gap-up and saw strong buying in early trade. Within minutes, the Nifty moved close to 24,000. After some profit booking, it stabilised and gradually moved higher again. By late morning, the index remained firm above 23,900 levels, showing sustained strength.

7 key reasons behind the rally

US-Iran ceasefire: A two-week ceasefire between the US and Iran reduced geopolitical tensions. This improved investor confidence globally.

Fall in crude oil prices: Brent crude dropped over 13 percent to around USD 94.80 per barrel. Lower oil prices ease inflation concerns and support economic growth.

Global market strength: Asian and US markets showed positive trends, which helped Indian markets move higher.

Stronger rupee: The rupee strengthened by about 50 paise to 92.56 per dollar, indicating better foreign investment sentiment.

RBI policy stability: The Reserve Bank of India kept the repo rate unchanged at 5.25 percent, providing stability and clarity to investors.

Value buying: Investors bought stocks at attractive valuations after recent corrections, adding momentum to the rally.