Stock Market Live Updates: Nifty50 ends above 24,300; BSE Sensex rises over 900 points as crude oil prices drop on US-Iran peace talk hopes

"The markets staged a strong rebound, with Nifty closing above the immediate resistance at 24,300 levels. The index has established a strong support zone around 24,000, which aligns with both the 21-DMA and 50-DMA. Additionally, Nifty has broken out of a symmetrical triangle pattern on the daily chart, indicating a positive shift in the short-term structure with potential upside towards 24,500 levels. On the volatility front, India VIX declined sharply by 7%, slipping below the 17 mark to a one-month low. Continued easing in volatility is likely to further support the ongoing bullish momentum,” says Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse Ltd.

"The index has delivered a strong close above its swing high, confirming a breakout from a downward consolidation on the daily chart. It is now trading above its 20-day moving average and approaching the 50-day SMA, indicating improving trend strength. The RSI has also witnessed a bullish crossover, supporting positive momentum. Overall, the outlook remains optimistic, with potential upside towards 57,200. On the downside, support has shifted higher to 55,200, while resistance is placed in the 56,500–57,000 zone,” says Vatsal Bhuva, Technical Analyst at LKP Securities.

"Domestic markets rallied on a risk-on sentiment, driven by easing US–Iran tensions and China’s diplomatic engagement, which helped contain crude prices, though the trend remains headline-sensitive. Global cues were further strengthened by strong AI-led tech earnings and large fund-raises, while yen-led dollar weakness aided EM flows. Domestically, favourable political cues, improving infra executions, and ECLGS 5.0 approval remain supportive, especially for MSME sectors. However, gains across financials, pharma, auto, and realty were partly led by short covering and tactical moves. With input cost pressures and FX risks still present, a selective investment approach is advisable,” says Vinod Nair, Head of Research, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmarks, rallied after a volatile trading session on Wednesday. While Nifty50 went above 24,300, BSE Sensex rose over 900 points. Nifty50 ended the day at 24,330.95, up 298 points or 1.24%. BSE Sensex closed at 77,958.52, up 941 points or 1.22%.

1. InterGlobe: Current Price 4,545.1 | Price Change 306.71 (+) | 7.23% (+)
2. Trent: Current Price 4,283 | Price Change 147.61 (+) | 3.56% (+)
3. HDFC Bank: Current Price 797.3 | Price Change 25 (+) | 3.23% (+)
4. Eternal: Current Price 256.39 | Price Change 7.92 (+) | 3.18% (+)
5. Asian Paints: Current Price 2,506 | Price Change 75.90 (+) | 3.13% (+)
6. SBI: Current Price 1,092.7 | Price Change 32.8 (+) | 3.09% (+)
7. M&M: Current Price 3,299 | Price Change 88.30 (+) | 2.76% (+)
8. Axis Bank: Current Price 1,288.5 | Price Change 28.8 (+) | 2.28% (+)
9. Tata Steel: Current Price 216.03 | Price Change 4.72 (+) | 2.22% (+)
10. Bajaj Finserv: Current Price 1,835 | Price Change 40.30 (+) | 2.25% (+)

Stock market today: Nifty50 and BSE Sensex rallied strongly in late afternoon trade on Wednesday, with Nifty50 crossing 24,300 and BSE Sensex closing in on the 78,000 mark. At 3:01 PM, Nifty50 was trading at 24,331.35, up 299 points or 1.24%. BSE Sensex was at 77,940.19, up 922 points or 1.20%.

Stock market today: Nifty50 and BSE Sensex are witnessing a volatile trading session, with a gap-up opening, fall from days’s highs, and now a sudden rally. At 2:27 PM, Nifty50 is trading at 24,299.15, up 266 points or 1.11%. BSE Sensex was at 77,790.78, up 773 points or 1%.

Stock market today: After seeing a gap up opening, Sensex and Nifty50 are trading flat in afternoon trade on Wednesday. At 1:34 PM, Nifty50 is trading at 24,087.40, up 55 points or 0.23%. BSE Sensex is at 77,049.12, up 31 points or 0.041%.

The Indian rupee is expected to move within a narrow range and hover near Rs 95 per US dollar by the end of 2026, close to its present level of around Rs 95.20, with the ongoing Iran conflict continuing to exert pressure on the currency, according to BMI.

That said, the pace of any further weakening is likely to be contained by factors such as reduced profit repatriation and interventions by the central bank, the Fitch Group unit noted in its report.

The tensions between the US and Iran have weighed on emerging market currencies overall, with countries that rely heavily on energy imports, including India, being particularly affected. The rupee has already weakened by about 4% during March and April 2026 and is currently trading near Rs 95.20 against the dollar.

BMI has projected India’s GDP growth at 7.6% for the ongoing financial year (April 2025 to March 2026), with inflation estimated at 3.4%. Amid the currency’s decline, the Reserve Bank of India stepped in aggressively in the foreign exchange market to stabilise the rupee.

Looking ahead, BMI expects the currency to largely hold steady and close the year around Rs 95 per dollar, as opposing forces influencing the rupee are likely to offset each other.

SRF shares climbed up to 5.4% during Wednesday’s session, touching an intraday peak of Rs 2,659, after the company posted a solid performance for the fourth quarter of FY26. Net profit rose 11% year-on-year to Rs 582 crore.

Profit after tax improved from Rs 526 crore in the same quarter last year, supported by stable revenue growth and better operating performance. The company also unveiled plans to invest Rs 2,300 crore in a new facility in Odisha, indicating ongoing expansion efforts.

On the revenue front, consolidated income for the quarter increased 7% year-on-year to Rs 4,615 crore, compared with Rs 4,313 crore a year earlier. Meanwhile, earnings before interest and tax (EBIT) advanced 12% to Rs 1,011 crore from Rs 906 crore in the corresponding period last year.

1. InterGlobe: Current Price 4,372.4 | Price Change 134 (+)
2. Trent: Current Price 4,250 | Price Change 114.61 (+)
3. Asian Paints: Current Price 2,473 | Price Change 43.00 (+)
4. M&M: Current Price 3,266.6 | Price Change 55.8 (+)
5. Cipla: Current Price 1,355.7 | Price Change 22 (+)
6. Bharti Airtel: Current Price 1,833.7 | Price Change 27.61 (+)
7. Shriram Finance: Current Price 978.15 | Price Change 13.75 (+)
8. Tata Motors PV: Current Price 345.05 | Price Change 4.91 (+)
9. SBI Life: Current Price 1,846.4 | Price Change 25.21 (+)
10. Bajaj Finserv: Current Price 1,818.3 | Price Change 23.71 (+)

Shares of Coforge surged 10% to Rs 1,285 in Wednesday’s session, following the company’s strong financial performance for the March quarter.
The IT services provider reported a sharp rise in profitability, with net profit for Q4FY26 climbing 134% year-on-year to Rs 612.3 crore, up from Rs 261.2 crore in the same period last year. Compared with the previous quarter, profit jumped 145% from Rs 250 crore.

Revenue from operations also recorded healthy growth, increasing 30% year-on-year to Rs 4,450.4 crore from Rs 4,322.2 crore. On a sequential basis, revenue grew 5% from Rs 4,231.5 crore.

In terms of currency metrics, quarterly revenue expanded 30% in rupee terms, 28.7% in constant currency, and 21.2% in US dollar terms on a yearly basis. Sequentially, revenue was up 5.2% in rupee terms.

Operating performance remained strong, with EBITDA reaching Rs 9,168 million ($100.8 million), marking a 56.2% increase year-on-year and an 18.5% rise quarter-on-quarter. Margins improved to 20.6%, up 232 basis points from the previous quarter. EBIT stood at Rs 7,368 million ($81 million), reflecting growth of 75.6% year-on-year and 22.2% sequentially, with margins at 16.6

South Korea’s benchmark index staged a sharp rally on Wednesday, with the Kospi surging nearly 7% to reach a new record high, driven largely by a strong jump in semiconductor stocks. Shares of Samsung Electronics climbed close to 13%, as optimism around artificial intelligence-led growth and improving prospects of a resolution to the ongoing US-Iran conflict lifted investor sentiment.

Another key chipmaker, SK Hynix, also saw its stock advance about 10% in early trade, reflecting continued demand expectations for AI-related components, where both companies play a crucial role.

Markets found additional support from reports that Iranian officials were heading to China ahead of a planned meeting between US President Donald Trump and Chinese President Xi Jinping, which helped ease concerns and stabilise oil price volatility.

After remaining shut on Tuesday due to a holiday, South Korea’s market reopened on Wednesday with strong momentum, rising 6.7% in early trade to 7,398.34.

Elsewhere in the region, most Asian markets also traded higher, although Japan remained closed for a holiday. Australia’s S&P/ASX 200 advanced nearly 1% in morning deals, while Hong Kong’s Hang Seng index gained 0.7% and China’s Shanghai Composite moved up 1%.

Post a few uncertain moments below our downside marker of 23940; recovery unfolded yesterday, easing collapse fears. While the threat of 23780-560 remains, yesterday’s long lower wicked candle points to the potential for a positive open today. We will wait for a direct rise above 24334, last week’s peak, to confirm upside, but ability to float above 24150 could suffice as a positive sign, says Anand James, Chief Market Strategist, Geojit Investments Limited.

After a strong rally last month, the question now is whether small-cap stocks can extend their momentum. The Nifty Smallcap 100 index surged an impressive 18% in April—its third-biggest monthly rise since it was launched in March 2011—raising expectations of further upside in the coming year. Historical trends offer some encouragement. Data from Valentis Advisors quoted in an ET report shows that in six out of the past seven occasions when the index climbed more than 15% in a single month, it went on to deliver gains over the following 12 months.

Short-term performance has also typically remained supportive after such sharp moves. The index recorded positive returns in five instances over the next month and in six cases over a three-month horizon. However, the current scenario differs from earlier cycles, as higher valuations in the small-cap space could limit the scope for further gains.

According to Jyotivardhan Jaipuria, founder and managing director at Valentis Advisors, the outlook for small caps remains constructive over an 18–24 month period, though elevated valuations compared with previous phases may restrict returns relative to historical averages.

The April rally followed a difficult phase in March, when the index dropped 10% amid geopolitical tensions, extending a broader correction that had begun in September 2024. While the sharp rebound helped recover part of those losses, it also pushed valuations to higher levels.

Abhilash Pagaria, head of Alternative and Quantitative Research at Nuvama Wealth, noted that although small-cap valuations are currently above long-term averages, there may still be room for a modest 5–7% upside in the near term. He added that markets have largely factored in risks from elevated oil prices, but a sharp rise beyond $125 per barrel could trigger renewed selling pressure.

"Since the war began the market has been moving up and down in response to news from the war front and fluctuations in the price of crude. Declarations by leaders of US and Iran, particularly by President Trump, had lost all credibility due to their notorious inconsistency. Therefore, the market will be careful while responding to the latest declaration by Secretary of State Marco Rubio that “operation Epic Fury is concluded”. The crude market has responded positively to the declaration with Brent declining to around $108.

Investors have to be mindful about present market valuations. Nifty is now trading around 20 times TTM earnings while Nifty Midcap and Nifty Smallcap indexes are trading at 35 times and 30 times respectively. Clearly valuation comfort is in largecaps. High valuation in the broader market can be justified only in the case of stocks with high growth potential. In the short run this valuation dichotomy may sustain but not in the long run. When the AI trade ends and FIIs stop selling/ start buying in India, largecaps will outperform,” says VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Stock market today: Nifty50 and BSE Sensex opened in green on Wednesday as oil prices dropped in international markets. While Nifty50 closed 24,200, BSE Sensex rose over 600 points in opening trade. At 9:16 AM, Nifty50 was trading at 24,199.70, up 167 points or 0.69%. BSE Sensex was at 77,539.15, up 521 points or 0.68%.

“In a fresh bout of ever-changing headlines around the US-Iran conflict, market sentiments improved as Trump signaled progress towards an agreement with Iran. The developments unfolded a day after an escalation in the conflict, raising doubts over the durability of the current ceasefire. Brent crude oil prices moderated to USD 108 pbl (at the time of writing) while the US dollar index traded lower at 98.28.

For the domestic market, although improved risk sentiments could provide some stability, we expect the USD/INR pair to continue trading with a depreciation bias given that crude oil prices continue to remain above $100 pbl. In the near-term, we expect the pair to trade in the range of 94.80-96. That said, if a peace deal is agreed upon over the coming days, we could see a knee jerk reaction in the currency and a shift down in the trading range below the 95 level,” says HDFC Bank in its note.

Oil prices continued to decline on Wednesday, while equity markets advanced, as renewed optimism over a possible end to the Iran conflict and the reopening of the Strait of Hormuz lifted sentiment. At the same time, Samsung crossed the $1 trillion market capitalisation mark, buoyed by the ongoing surge in artificial intelligence-driven demand.

Market participants responded positively to US President Donald Trump’s move to temporarily halt operations aimed at assisting stranded vessels in the strategic waterway—a step that had previously drawn attacks from Iran and put additional strain on an already delicate ceasefire.

Having earlier issued strong warnings against Iran over any attacks on US ships, Trump adopted a more measured tone on Tuesday. In a social media post, he announced that “Project Freedom,” which focuses on enabling ship movement through the Strait of Hormuz, would be paused briefly to allow time for a potential agreement to be finalised.

He pointed to significant progress in negotiations with Iranian representatives as the reason behind the decision. Despite this, the United States continues to maintain its blockade of Iranian ports.

Crude oil prices extended their decline for a second straight session on Wednesday, as optimism grew that supplies from the Middle East could start normalising. The sentiment followed remarks by US President Donald Trump, who hinted at the possibility of a peace agreement with Iran that could bring an end to the ongoing conflict.

Brent crude for July delivery slipped by $1.52, or 1.38%, to $108.35 per barrel as of 0103 GMT, adding to a 4% drop in the previous session. Similarly, US West Texas Intermediate futures for June fell $1.50, or 1.47%, to $100.77, after having declined 3.9% a day earlier.

On Tuesday, Trump unexpectedly announced a temporary halt to efforts aimed at escorting vessels through the Strait of Hormuz, pointing to progress in negotiations toward a broader deal with Iran, though he did not elaborate on the specifics. There was no immediate response from Tehran, where it was still early morning.

Despite the pause in that operation, Trump indicated that the U.S. Navy would maintain its blockade of Iranian ports. The Strait of Hormuz—through which roughly one-fifth of global oil and gas supplies typically pass—has remained largely disrupted since the onset of the U.S.-Israeli conflict with Iran on February 28.

Index formed a high wave candle with a lower high and a lower low signaling consolidation with corrective bias.

Overall, we expect the Bank Nifty to extend consolidation in the broad range of 54,000-56,500 amid stock specific action as we progress through the quarterly earning session of the banking stocks.

Within the consolidation a move above of 55,000 levels being the trendline resistance joining recent highs will signal extension of the pullback towards the 56,500 levels. While a breach below the key support area of 54,000 will signal extension of the decline towards 52,500 levels being the gap area of the 8th April.

Index has immediate support around 54,000 levels being the confluence of the recent low and 38.2% retracement of the last 3 weeks pullback (49,955-57,456).

As the Nifty continues to consolidate, the focus should remain on identifying stocks based on sectoral trends while maintaining a balanced approach. We reiterate our preference for energy, metals, and pharma, along with themes such as defence and railways for long positions, while banking and IT may continue to remain subdued, says Ajit Mishra – SVP, Research, Religare Broking Ltd.

According to Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, Nifty is expected to consolidate in the near term, with markets likely to remain sensitive to developments in West Asia. While, Positive domestic macros, steady Q4 earnings and intermittent FII buying has provided near-term support, elevated crude prices, currency weakness and geopolitical uncertainties are key overhang. On the political front, the outcome of multiple state elections is expected to be viewed positively by the market.

“These results carry longer-term implications for economic growth across the involved states, particularly in West Bengal, where structural changes could unfold over time. We expect that once the impact of the election outcome is absorbed, the market focus would shift back to near-term triggers, including any progress in the West Asia, sector-specific news flow and the ongoing 4QFY26 earnings season. The earnings season so far has been largely in line with expectations, with a modest positive bias. Among 109 companies under Mofsl coverage that have reported, sales have been 1.6% ahead of estimates and PAT 2.6% above expectations.

Sectorally, banks, consumer, consumer durables, healthcare, metals and retail have delivered notable beats, while autos, NBFCs, Oil&Gas and utilities have reported misses at the aggregate PAT level. On Tuesday, Indian markets came under pressure amid escalating tensions in West Asia and the rupee hitting all time lows. Iran intensified attacks in the Middle East, targeting critical energy infrastructure in the UAE, rose concerns over supply disruptions. Brent crude surged to an intraday high of USD 115 per barrel, heightening inflation concerns for oil-importing economies like India.

The Nifty 50 closed at 24,033 (-0.4%), while broader markets remained relatively resilient, with the Midcap100 and Smallcap100 indices gaining 0.2% and 0.3%, respectively. The Indian rupee weakened to a record low of 95.5/USD, reflecting pressure from elevated crude prices and heightened geopolitical uncertainty,” he said.

Index formed a Doji candlestick pattern with a long lower shadow highlighting buying demand at lower levels around the last two weeks lows around 23,800-23,900 as the index continues to consolidate around the 20 days EMA.

In line with our expectations Nifty is witnessing consolidation in the broad range of 23,550-24,400 amid stock specific action as we progress through the quarterly earning session.

Within the consolidation index holding above last two weeks lows around 23,800-23,900 will signal extension of the pullback towards the upper band of the range placed around 24,400 levels. While a close below last two weeks identical lows will open downside towards the lower band of the range placed around 23,550 levels.

Short-term support is positioned around 23,550 levels being the confluence of the recent major low and 38.2% retracement of the last 3 weeks pullback (22,183-24,601).