Sensex jumps 220 after reports of possible U.S.-Iran ceasefire extension
The Indian stock market opened muted on Thursday before recovering, thanks to reports of a possible ceasefire extension between the US and Iran.
The Sensex jumped over 220 points to 76,090, and the Nifty climbed 57 points to 23,964 early in the day.
Tech giants like Infosys, TCS, HCL Tech, and Tech Mahindra led the charge with gains of up to 3%.
Indian markets upbeat, foreign selling ₹1,000cr
Market mood stayed upbeat overall: ICICI Bank, Maruti Suzuki, and Reliance also saw nearly 1% gains.
There was a bit more volatility (the India VIX ticked up), but most broader indices opened in the green.
Falling Brent crude prices (now under $93 a barrel) and a slightly stronger rupee helped boost confidence.
However, foreign investors kept selling off shares worth over ₹1,000 crore even as analysts pointed out that strong fourth-quarter earnings in finance and metals are keeping spirits high.