Mumbai

Benchmark stock indices BSE Sensex and Nifty 50 kicked off the new financial year on a strong note on Wednesday, rallying nearly 2 per cent amid optimism over a possible de-escalation in the West Asia conflict and easing crude oil prices.

The 30-share Sensex surged 1,186.77 points (1.65%) to close at 73,134.32, after touching an intraday high of 73,964.58. Meanwhile, the Nifty 50 climbed 348 points (1.56%) to settle at 22,679.40.

The rally was largely in sync with global markets, which rebounded sharply on hopes of reduced geopolitical tensions. Investor sentiment improved after remarks by Donald Trump indicating a possible resolution timeline for the ongoing conflict in West Asia.

Asian markets posted strong gains, with indices like Japan’s Nikkei 225 and South Korea’s KOSPI rising significantly. European markets were also trading in positive territory, while Wall Street had closed higher in the previous session, led by gains in the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average.

A slight dip in Brent crude prices—down to around USD 103.7 per barrel—further supported market momentum, easing concerns over inflation and input costs.

Among Sensex constituents, key gainers included:

Trent Limited

InterGlobe Aviation

Adani Ports and Special Economic Zone

Bharat Electronics Limited

State Bank of India

On the flip side, laggards included:

NTPC Limited

Sun Pharmaceutical Industries

Power Grid Corporation of India

UltraTech Cement

Bharti Airtel

Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth over Rs 11,000 crore earlier this week. However, Domestic Institutional Investors (DIIs) provided strong support, purchasing stocks worth nearly Rs 15,000 crore.

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Market experts say the rally reflects renewed risk appetite and optimism around global stability. The combination of easing oil prices, positive global cues, and hopes of geopolitical cooling has set an encouraging tone for FY27, although volatility may persist depending on further developments in West Asia.