Mumbai: The stock market began the new financial year on a strong note, with the BSE Sensex rising 1,186.77 points, or 1.65 percent, to close at 73,134.32 on Wednesday. During the day, it surged as much as 2,017 points, showing strong buying interest across sectors.
Wealth surge for investors
The rally added nearly Rs 9.60 lakh crore to investors’ wealth in a single session. The total market capitalisation of BSE-listed companies rose to Rs 4,22,01,433.48 crore (about USD 4.46 trillion), reflecting renewed confidence in equities.
Global cues lift sentiment
Markets were supported by strong global signals. Hopes of easing tensions between the US and Iran improved investor confidence. Global markets also rallied sharply, with gains seen in Asia, Europe, and the US.
Lower crude oil prices further boosted sentiment, as it reduces inflation pressure and supports economic growth in oil-importing countries like India.
Key gainers and laggards
Among Sensex stocks, major gainers included Trent, InterGlobe Aviation, Adani Ports, Bharat Electronics, and State Bank of India.
However, some stocks such as NTPC, Sun Pharma, Power Grid, UltraTech Cement, and Bharti Airtel ended lower.
Expert view
Market experts said the rebound was driven by improving global risk appetite. Falling oil prices and bond yields also supported emerging markets like India.
Overall, the rally signals a positive start to the financial year, though investors will continue to track global developments closely.
Global market snapshot
Asian markets surged, with South Korea’s Kospi rising over 8 percent and Japan’s Nikkei gaining more than 5 percent. US markets also ended sharply higher, with the Nasdaq jumping nearly 4 percent.
Brent crude prices fell over 2 percent to around $101.8 per barrel, adding to positive market momentum.
