India’s BSE Sensex jumped about 4% on Wednesday to close at 77,563, its highest level in a month and its fifth consecutive session of gains. The rally was driven by a temporary ceasefire between the US and Iran and a sharp decline in crude oil prices. President Trump suspended planned military strikes after Iran presented a 10-point proposal that included assurances of safe passage through the Strait of Hormuz, with follow-up negotiations slated to take place in Islamabad on April 10.
Market sentiment was further bolstered by the Reserve Bank of India’s decision to keep policy rates unchanged and retain its neutral stance. Buying interest was broad-based, with gains recorded across most sectors.
Among individual stocks, IndiGo led the advance with an 8.2% surge, as lower oil prices eased cost pressures on the airline. Other notable gainers included L&T, Adani Ports, Bajaj Finance, Bajaj Finserv, UltraTech Cement, Maruti Suzuki, Mahindra & Mahindra, Axis Bank, Eternal, and HDFC Bank, each rising between 5% and 7.6%. On the downside, Tech Mahindra (-1.5%), Sun Pharma (-0.3%), and Power Grid (-0.2%) were the only decliners in the session.
