The domestic equity benchmarks ended with major gains today, notching gains for the third day in a row, supported by gains in Asian markets and continued optimism around a possible Israel-Iran ceasefire. The Nifty settled around 25,550 mark.
The barometer index, the S&P BSE Sensex zoomed 1,000.36 points or 1.21% to 83,755.87. The Nifty 50 index surged 304.25 points or 1.21% to 25,549. In the past three consecutive trading sessions, the Sensex advanced 2.27% while the Nifty rose 2.31%.
In the broader market, the S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index added 0.12%. The market breadth was strong.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.87% to 12.59.
Among the sectoral indices, the Nifty Metal index (up 2.31%), the Nifty Oil & Gas index (up 1.86%) and the Nifty Financial Services index (up 1.53%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Media index (down 1.09%), the Nifty Realty index (down 1%) and the Nifty IT index (down 0.13%) underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.16% to 6.273 from the previous close of 6.283.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.7200 compared with its close of 86.0850 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement shed 0.03% to Rs 97,330.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.56% to 97.15.
The United States 10-year bond yield fell 0.33% to 4.276.
In the commodities market, Brent crude for August 2025 settlement added 14 cents or 0.21% to $67.82 a barrel.
Global Markets:
European stocks edged higher, while Asian shares ended mixed on Thursday, as investors weighed the Israel-Iran ceasefire, an upcoming U.S. tariff deadline, and fresh remarks from Fed Chair Jerome Powell.
Late Monday, President Trump announced a multi-stage truce between the two nations, urging both sides to hold the line. By Wednesday, the ceasefire seemed to be sticking, just a day after both countries said they had wrapped up a 12-day aerial showdown.
U.S. Secretary of State Marco Rubio claimed Iran is now "much further" from building a nuclear weapon post-strikes, downplaying intelligence that says the air raids merely bought a few extra months.
Trump, meanwhile, credited the swift U.S. military response for ending the skirmish and said he plans to push Iran to abandon its nuclear ambitions during talks next week.
Back in the U.S., shares ended Wednesday on a subdued note. The S&P 500 hovered near the flatline, closing at 6,092.16 as investors looked for clues on whether it could challenge its all-time high. The Nasdaq inched up 0.31%, while the Dow slipped 0.25%.
Federal Reserve Chair Jerome Powell wrapped up his Capitol Hill testimony, continuing to strike a cautious tone on inflation and trade. While he left the door open for future rate cuts if recent pressures prove short-lived, he avoided committing to any timeline, despite mounting pressure from President Trump.
NVIDIA hit a fresh all-time high after Loop Capital boosted its price target to $250 from $175, pointing to strong and sustained demand for AI chips as artificial intelligence adoption surges.
FedEx shares dropped over 3% after the company issued a weaker-than-expected profit forecast for the current quarter.