Stock market today: Frontline indices, the Sensex and the Nifty 50, jumped sharply as a fresh spell of buying engulfed most sectors in early deals on Wednesday, April 15.
The Sensex surged over 1,400 points, or nearly 2%, to an intraday high of 78,270, while the Nifty 50 jumped more than 400 points, or almost 2%, to the day’s high of 24,281. The Nifty Midcap 100 and Smallcap 100 indices jumped more than 2% each.
Investors’ wealth jumped by ₹9 lakh crore as the cumulative market capitalisation of the firms listed on the BSE rose to ₹458 lakh crore from ₹449 lakh crore in the previous session.
Why is the Indian stock market rising?
Let’s take a look at key factors behind the rise in the Indian stock market:
1. US-Iran talks to resume
The market cheered the reports, suggesting the US and Iran could engage in talks shortly to find a permanent solution to their conflict.
As Reuters reported, US President Donald Trump said talks with Iran could resume in Pakistan over the next two days.
Signs of diplomatic engagement calmed market nerves after the first round of talks over the last weekend between the parties failed to fetch a desired outcome.
2. Crude oil prices slump further
Brent crude declined further to trade below the $95 per barrel level, boosting market sentiment.
Brent crude futures fell nearly 0.40% to $94 a barrel, after declining almost 5% in the previous session. US West Texas Intermediate crude dropped more than 1% to $90, following an 8% fall in the previous session after President Trump said that the talks to end the US-Iran war could resume in Pakistan over the next two days.
(This is a developing story. Please check back for fresh updates.)
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
