BSE Sensex, Nifty 50 Rebound As Donald Trump Signals Iran War May End Soon; Crude Prices Fall

Indian equity markets rose in early trade on Tuesday after US President Donald Trump indicated that the war with Iran may be nearing an end. As of 9:29 am, the BSE Sensex was up 413 points, or 0.53 per cent, at 77,979, while the Nifty 50 gained 112 points, or 0.47 per cent, to reach 24,140.

Broader markets also advanced, with the Nifty Midcap 100 rising 1.05 per cent and the Nifty Small Cap 100 gaining 1.32 per cent.

Most sectoral indices traded higher in early deals. However, Nifty IT and oil and gas stocks remained under pressure, declining 0.54 per cent and 0.47 per cent respectively.

Among the gainers, Nifty auto rose 1.47 per cent, Nifty pharma climbed 1.28 per cent, and Nifty consumer durables surged 1.95 per cent.

Market participants said near-term resistance for Nifty is placed between 24,200 and 24,250, while strong support is seen in the 23,900–23,950 range. For Bank Nifty, resistance is seen between 56,300 and 56,400, with support in the 55,700-55,800 zone.

Global Cues Support Sentiment

Investor sentiment improved after Trump suggested that the US–Israel conflict with Iran could end soon, which triggered a decline in crude oil prices and the US dollar, restoring risk appetite across global markets.

Oil prices dropped more than 10 per cent before partially rebounding after Trump said he was considering seizing control of the Strait of Hormuz. He also added that the war is “complete” and will be over ‘very soon,’ according to multiple reports.

Asian, US Markets Also Gain

Asian markets traded higher, with Shanghai rising 0.39 per cent and Shenzhen gaining 1.57 per cent. Japan’s Nikkei advanced 2.35 per cent, Hong Kong’s Hang Seng Index jumped 1.76 per cent, and South Korea’s Kospi surged 4.8 per cent.

US markets also ended in positive territory overnight. The Nasdaq rose 1.38 per cent, the S&P 500 gained 0.83 per cent, and the Dow Jones advanced 0.5 per cent.

Analysts said markets may remain volatile in the near term as investors monitor geopolitical developments, crude oil trends and global risk sentiment.

On March 9, foreign institutional investors sold equities worth Rs 6,345 crore, while domestic institutional investors bought equities worth Rs 9,013 crore.

Also Read: Petrol, Diesel Prices Unlikely To Rise In India Despite Crude Oil Crossing $110