NEW DELHI, Apr 15: Investors’ wealth surged by Rs 9.41 lakh crore on Wednesday as benchmark indices rebounded sharply amid hopes of renewed diplomatic engagement between the US and Iran.
The 30-share BSE Sensex jumped 1,263.67 points or 1.64 per cent to settle at 78,111.24. During the day, it zoomed 1,422.85 points or 1.85 per cent to 78,270.42.
The market capitalisation of BSE-listed companies jumped by Rs 9,41,461.6 crore to Rs 4,58,55,016.77 crore (USD 4.91 trillion).
“Optimism was driven by expectations of renewed US-Iran negotiations, which helped ease concerns around potential oil supply disruptions and triggered a decline in crude prices.
“Market sentiment strengthened further after US President Donald Trump indicated that a second round of discussions could be on the table,” according to Bajaj Broking Research.
US President Donald Trump has said that the war with Iran is “close to over,” asserting that if he pulled up stakes right now, it would take Tehran 20 years to rebuild the country.
“I think it’s close to over, yeah. I view it as very close to being over,” Trump told Fox News in an interview that will be telecast later Wednesday.
As per a US media report on Tuesday Trump said that a second round of talks with Iran could be held in Islamabad “over the next two days.
“The primary trigger for today’s rally was rising hopes of renewed US–Iran peace talks, with US President Trump signalling negotiations may resume in Pakistan within days. This lifted sentiment globally and eased fears of a prolonged Strait of Hormuz disruption,” Gaurav Garg, Analyst, Lemonn Markets Desk, said.
Among the 30-Sensex firms, InterGlobe Aviation, Eternal, Power Grid, Adani Ports, Tech Mahindra and Tata Consultancy Services were the major gainers.
Bharti Airtel and ICICI Bank were the laggards.
Brent crude, the global oil benchmark, was trading at USD 95.72 per barrel, up by 0.98 per cent.
The BSE SmallCap Select index jumped 2.62 per cent and MidCap Select index climbed 2.55 per cent.
Services jumped 3.30 per cent, Focused IT (3.09 per cent), industrials (2.90 per cent), power (2.87 per cent), Consumer Durables (2.84 per cent), IT (2.78 per cent), Capital Goods (2.54 per cent) and Utilities (2.52 per cent).
A total of 3,585 stocks advanced while 802 declined and 126 remained unchanged on the BSE. (PTI)
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