Stock Market Updates: Sensex Surges 700 Points, Nifty Nears 24,000; TCS Falls 3%, Ola Zooms 9%

Market Today: The Nifty50 and the Sensex traded higher, tracking gains across Asia-Pacific markets, as investors continued to monitor developments around US-Iran tensions.

The Nifty50 was up 212.25 points, or 0.89 percent, at 23,987.35, while the Sensex advanced 701.16 points, or 0.91 percent, to 77,332.81.

Shriram Finance, Bajaj Finserv, Eicher Motors, and Axis Bank were among the top gainers on the Nifty50.

In the broader market, the Nifty MidCap and Nifty SmallCap indices outperformed, rising 1.29 percent and 1.25 percent, respectively.

On the sectoral front, the Nifty Financial Services Ex-Bank index led the gains, while the Nifty PSU Bank and Nifty Media indices also traded higher. In contrast, the Nifty IT index was the worst performer among

sectoral indices.

Markets across the Asia-Pacific region were largely positive, led by South Korea’s Kospi, which gained 2.18 percent. Japan’s Nikkei 225 and Hong Kong’s Hang Seng were also higher by 1.78 percent and 1.11 percent, respectively.

On Wall Street, US indices ended higher overnight as traders evaluated the fragile ceasefire between the US and Iran. The S&P 500 rose 0.62 percent, the Dow Jones Industrial Average gained 0.58 percent, and the Nasdaq Composite climbed 0.83 percent.

In commodities, Brent crude edged higher in early trade, as concerns over attacks on Saudi energy infrastructure and uncertainty around the ceasefire supported prices. The April contract was up 0.58 percent at $96.44 per barrel.

Meanwhile, precious metals saw some profit booking, with gold and silver futures declining 0.71 percent and 1.12 percent, respectively.