India’s BSE Sensex climbed 2.4% to 73,657 on Wednesday, rebounding from losses in the previous two sessions. The upswing was supported by optimism that the conflict in the Middle East may soon be resolved, sending oil prices lower. US President Trump indicated that Washington could halt its military operations against Iran within two to three weeks and noted that Iran might not need to reach a formal agreement for the hostilities to subside.
On the data front, India’s final HSBC Manufacturing PMI for March, due Thursday, is expected at 55.2, up from the preliminary estimate of 53.8 but still below February’s 56.9, suggesting some easing in manufacturing momentum.
In corporate news, auto stocks were in focus as companies released their March sales figures. IndiGo appointed Willie Walsh as its new CEO, Jubilant FoodWorks announced it will end its partnership with Dunkin’ after 2026, and Tenneco Clean Air India received a “buy” rating from Citi, supported by growth prospects tied to its parent company.
Early gainers included BSE (up 6.9%), Bharat Electronics (6%), HDFC Bank (2.9%), ICICI Bank (1.4%), and Vedanta (3.4%).
