Sensex Jumps Over 500 Points, Nifty Tops 24,150: 3 Reasons Why Stock Market Is Rallying Today

Indian benchmark equity indices surged on Thursday, with the Sensex climbing more than 500 points and the Nifty reclaiming the 24,150 mark, as investors cheered falling crude oil prices, easing geopolitical tensions in West Asia, and strong buying in information technology (IT) stocks.

At around 2:41 pm, the BSE Sensex was up 581.35 points, or 0.76%, at 77,503.99, while the Nifty 50 gained 0.72% to 24,178.20. Market breadth remained positive, with most sectoral indices trading in the green. FMCG was the only major laggard, while broader markets also advanced.

1. Crude oil prices fall

A sharp decline in crude oil prices boosted investor sentiment. Brent crude slipped about 1% to $70.79 per barrel, extending losses for a third consecutive session and touching its lowest

level in four months.

The fall came as geopolitical tensions eased and expectations grew that OPEC+ could increase oil production from August. Lower crude prices are positive for India, which imports most of its oil, as they help reduce inflationary pressures and improve the country’s trade balance.

2. Easing geopolitical tensions

Markets also found support from signs of diplomatic progress in West Asia. Qatar said indirect talks between Iran and the United States over the Strait of Hormuz had made “positive progress.”

The Strait of Hormuz is a critical route for global oil shipments, and easing concerns over supply disruptions helped improve overall market sentiment. The next round of talks between Iran and the US is scheduled for July 9.

3. Strong buying in IT stocks

Information technology stocks staged a sharp rebound after four straight sessions of losses, lifting the broader market.

The Nifty IT index surged more than 3%, with heavyweight stocks leading the gains. Infosys rose nearly 4%, HCLTech gained over 3%, while Tata Consultancy Services (TCS) advanced around 2.6%. Investors returned to large-cap IT stocks after the recent correction, making the sector one of the biggest contributors to Thursday’s rally.

Lower oil prices, improving geopolitical sentiment and renewed buying in IT shares combined to drive the market higher, helping both the Sensex and Nifty extend their gains during the session.