Indian equity markets extended their rally for a third straight session on April 6, with benchmark indices rising over 1 percent each, supported by easing crude oil prices, a firmer rupee and hopes of a geopolitical de-escalation in West Asia.
The Sensex closed 787 points, or 1.07 percent higher, at 74,106.85, while the Nifty 50 advanced 255 points, or 1.12 percent, to settle at 22,968.25. Broader markets also participated in the upmove, with the BSE Midcap index rising 1.30 percent and the Smallcap index gaining 1.10 percent.
Investor wealth surged by more than ₹5 lakh-crore in a single session, with the total market capitalisation of BSE-listed companies climbing to over ₹427 lakh-crore.
Markets drew support from reports of possible progress towards a ceasefire in the US-Iran conflict, raising hopes of stability in the West Asia region and reopening of the Strait of Hormuz. At the same time, softer crude oil prices and a strengthening rupee improved sentiment, particularly for rate-sensitive sectors.
Despite the rally, analysts caution that markets remain sensitive to global cues, including inflation trends, central bank signals and geopolitical developments.
The Indian rupee appreciated by 4 paise to close at 93.06 against the dollar. During the session, it traded in the range of 92.79–93.15. The currency had hit a record low of 95.23 on March 30.
Brent crude prices declined more than 1 percent to trade near $108 per barrel, offering relief to markets. The fall followed easing concerns over supply disruptions amid ceasefire discussions.
Most sectoral indices ended in positive territory.
Banking, financial services, PSU banks, private banks, realty and consumer durables gained over 2 percent each
Oil and gas index fell 1.37 percent
Media index slipped 0.22 percent
Among Nifty stocks:
Gainers: Trent, SBI Life Insurance Company, Titan Company (up 4–8 percent)
Losers: Reliance Industries, ONGC, Max Healthcare Institute (down 1–3 percent)
The most actively traded stocks by volume included Vodafone Idea, Ola Electric Mobility, Adani Power, YES Bank, Jaiprakash Power Ventures and Reliance Power.
--Around 78 stocks, including CCL Products (India), Granules India and RPSG Ventures, hit 52-week highs
--About 89 stocks, including JSW Infrastructure, Max Healthcare Institute and Pidilite Industries, touched 52-week lows
Analysts indicate that the Nifty is showing a positive higher-bottom formation on intraday charts, suggesting continuation of the pullback.
Immediate support: 22,700 and 22,550
Key resistance: 23,150 and 23,300
A sustained move above 23,000 could extend gains towards the 23,400–23,500 zone, while a break below 22,550 may weaken the ongoing uptrend.
Overall, markets are expected to remain volatile and largely driven by global developments, including central bank cues, inflation data and geopolitical headlines.
