The key equity benchmarks ended with strong gains today after snapping a three-session losing streak, as global risk appetite improved following a sharp sell-off triggered by the Middle East crisis. The benchmarks had declined steeply since Friday after the US-Israel strikes on Iran pushed crude oil prices higher and heightened inflation concerns. The Nifty ended above the 24,750 mark.
The barometer index, the S&P BSE Sensex surged 899.71 points or 1.14% to 80,015.90. The Nifty 50 index jumped 285.40 points or 1.17% to 24,765.90. The 50-share index had fallen 3.99% over the previous three sessions.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index, added 1.44% and the BSE 250 SmallCap Index jumped 1.38%. The market breadth was strong.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 15.52% to 17.86.
Among the sectoral indices, the Nifty Metal index (up 2.29%), the Nifty Consumer Durables index (up 2.10%) and the Nifty Auto index (up 1.86%) outperformed the Nifty 50 index.
Meanwhile, the Nifty IT index (down 0.59%), the Nifty Media index (up 1.07%), and the Nifty PSU Bank index (up 0.49%) underperformed the Nifty 50 index.
Numbers To Track:
The yield on India's 10-year benchmark federal paper declined 0.36% to 6.645 compared with previous session close of 6.669.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.5725 compared with its close of 92.0500 during the previous trading session.
MCX Gold futures for 2 April 2026 settlement declined 0.05% to Rs 161,451.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.08% to 98.89.
The United States 10-year bond yield added 0.93% to 4.121.
In the commodities market, Brent crude for May 2026 settlement jumped $1.38 or 1.70% to $82.78 a barrel.
Global Markets:
The US Dow Jones index futures are currently down by 74 points, signaling a negative opening for US stocks today.
European equities traded higher on Thursday. According to the preliminary estimates from Eurostat, the statistical office of the European Union, seasonally adjusted retail trade volume in January 2026 declined by 0.1% in the euro area compared with December 2025, while it rose by 0.1% across the EU.
Asian markets ended higher, rebounding after several days of steep losses as sentiment improved following overnight gains on Wall Street and easing concerns over surging oil prices.
South Korea’s Kospi jumped over 12%, staging a sharp rebound from its worst session recorded on Wednesday.
As per media reports, the rebound in South Korea’s stock market was largely driven by a reversal of leveraged selling. A wave of margin calls among retail investors had triggered heavy selling earlier in the week, but once those positions were unwound, the market began to recover, the reports added.
Other media report stated that the sell-off was mainly driven by the upside risk around oil prices stemming from the evolving geopolitical developments. Since South Korea is a major crude oil importer, uncertainty around how far oil prices could rise may weigh on the current account balance and add to inflationary pressures.
The U.S. Treasury Secretary Scott Bessent has reportedly said on Wednesday that Washington will roll out a series of measures aimed at stabilizing oil shipments through the Persian Gulf, signaling that the government is prepared to step in as geopolitical tensions threaten one of the world’s most critical energy corridors.
China’s big policy meeting dubbed the “Two Sessions,” which kicked off on Wednesday, remained on investors' radar.
China has reportedly set its GDP growth target for 2026 at 4.5% to 5%, the lowest target on record going back to the early 1990s, as Beijing grapples with persistent deflationary pressures and trade tensions with the United States. Beijing also kept its budget deficit target unchanged from last year’s “around 4%” of GDP
Overnight in the U.S., stocks rose, building on the momentum seen late in the previous session, as the surge in oil prices pulled back following developments in the U.S.-Israeli war on Iran and fears about a U.S. economic growth scare faded.
The Dow Jones Industrial Average added 238.14 points, or 0.49%, to close at 48,739.41. The 30-stock index snapped a three-day run of losses. The S&P 500 gained 0.78% and ended at 6,869.50, while the Nasdaq Composite moved 1.29% higher and settled at 22,807.48.