The markets staged a strong comeback on Wednesday, with the Sensex soaring nearly 791 points and the Nifty closing above the crucial 24,000 mark as easing geopolitical concerns, falling crude oil prices and renewed buying in banking stocks boosted investor sentiment.
The BSE Sensex ended the day at 76,991.22, up 790.54 points or 1.04%, while the NSE Nifty50 gained 197.55 points, or 0.83%, to settle at 24,021.65. The rally came after recent uncertainty linked to developments in the Middle East and reflected improving confidence among domestic and foreign investors.
Banking stocks emerged as the biggest drivers of the market’s advance. HDFC Bank and ICICI Bank rose around 2.5% each, helping lift benchmark indices. Investors welcomed comments from Reserve Bank of India Governor Sanjay Malhotra, who indicated that discussions around interest rate hikes were premature as broad inflation pressures remain under control.
Lower crude oil prices also supported market sentiment. Oil prices have declined sharply since signs of easing tensions between the United States and Iran, reducing concerns about inflation and import costs for India. Expectations of progress in India-US trade discussions further added to the positive mood on Dalal Street.
Among the day’s top gainers were HDFC Bank, ICICI Bank, Trent and several information technology stocks including Infosys and Tech Mahindra. Textile shares also witnessed strong buying interest on hopes of stronger export demand.
On the losing side, Vedanta remained under pressure after a major promoter stake sale through a block deal worth more than ₹2,100 crore. Some energy-related stocks also saw limited gains as investors assessed the impact of softer commodity prices.
Broader markets also participated in the rally, with mid-cap and small-cap indices ending higher. Analysts said improving foreign fund flows, easing oil prices and supportive central bank commentary helped drive the recovery.