Sensex jumps 1,187 pts, Nifty tops 22,650 as global cues lift sentiment

The key equity benchmarks ended sharply higher on Wednesday, snapping a two-day losing streak. Sentiment improved after US President Donald Trump signalled a possible wind-down of military operations involving Iran within two to three weeks.

Hopes of de-escalation in Middle East tensions eased geopolitical concerns. Crude oil prices declined, with Brent nearing the $100 per barrel mark. US bond yields also softened, supporting risk appetite.

The Nifty closed above the 22,650 mark, led by PSU banks and metal stocks. The recovery was also aided by attractive valuations after the recent correction and supportive global cues.

The S&P BSE Sensex surged 1,186.77 points or 1.65% to 73,134.32. The Nifty 50 index zoomed 348 points or 1.56% to 22,679.40. In the past two sessions, the Sensex declined 4.41% while the Nifty fell 4.18%.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 2.25% and the BSE 250 SmallCap Index jumped 3.44%.

The market breadth was strong. On the BSE, 3,828 shares rose and 508 shares fell. A total of 105 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 10.31% to 25.01.

Economy:

India?s Goods and Services Tax (GST) collections crossed the Rs 2 lakh crore mark in March 2026, reflecting a strong year-end push in economic activity and compliance. Gross GST collections stood at Rs 2,00,064 crore, while net collections, after refunds, came in at Rs 1,77,990 crore. For FY26 (April?March), net GST collections reached Rs 19.34 lakh crore, up 7.1% from Rs 18.07 lakh crore in the previous financial year.

Numbers to Track:

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.70000 compared with its close of 94.8525 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement rose 0.85% to Rs 152,038.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.42% to 99.54.

The United States 10-year bond yield fell 0.70% to 4.281.

In the commodities market, Brent crude for June 2026 settlement declined 30 cents or 0.29% to $103.67 a barrel.

Global Market:

US Dow Jones futures are up 302 points, indicating a positive start for US markets today.

European stocks traded higher on Wednesday after President Donald Trump said the US could exit the Iran conflict within two to three weeks.

Spain?s manufacturing PMI fell to 48.7 in March, indicating contraction, while Germany?s PMI rose to 52.2, signaling expansion. However, both economies faced supply disruptions, rising costs, and weak sentiment due to geopolitical tensions.

Asian market ended higher after Trump?s comments raised hopes of a potential de-escalation in the Iran conflict.

In the US, Trump said on Tuesday that involvement in the conflict could be scaled back within two to three weeks, citing limited justification for continued engagement.

Investor sentiment was also supported by strong economic data from Japan. The Bank of Japan?s Tankan survey showed business sentiment among large manufacturers rising to 17 in Q1 2026 from 15 in the previous quarter, beating expectations of 16 and marking the highest level since Q4 2021. Sentiment among large non-manufacturers stood at 36, unchanged from the prior quarter but above expectations of 33.

In China, manufacturing activity moderated, with the PMI easing to 50.8 in March from 52.1 in February and below expectations of 51.6, though still indicating expansion.

Overnight, US markets rallied sharply. The Dow Jones Industrial Average rose 1,125.37 points, or 2.49%, to 46,341.51. The S&P 500 gained 2.91% to 6,528.52, while the Nasdaq Composite advanced 3.83% to 21,590.63.

The rally was driven by optimism around easing geopolitical tensions and reports suggesting Iran may be open to ending hostilities. Expectations of stabilisation in energy supplies, particularly around the Strait of Hormuz, also supported global market sentiment.

Auto Sales Data:

Mahindra & Mahindra (M&M) rallied 2.53% after the company reported a 21% increase in production to 99,969 units in March 2026, compared with 82,431 units in March 2025.

Maruti Suzuki India gained 1.64% after the company reported total sales of 225,251 units in March 2026, reflecting nearly 17% YoY growth over 192,984 units in March 2025.

Tata Motors added 2.24% after the company?s total commercial vehicle (CV) sales jumped 17% to 47,976 units in March 2026 compared with 41,122 units sold in March 2025.

Eicher Motors jumped 3.62% after the company?s unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 10.1% year-on-year rise in commercial vehicle (CV) sales to 13,311 units in March 2026.

Atul Auto surged 8.55% after the company reported a 14.05% rise in total sales to 4,212 units in March 2026, compared with 3,693 units sold in March 2025.

Steel Strips Wheels (SSWL) surged 10.10% after the company reported a net turnover of Rs 520.75 crore for March 2026, marking a 20.07% year-on-year (YoY) increase compared to Rs 433.70 crore recorded in March 2025.

Escorts Kubota rallied 3.21% after the company?s tractor sales jumped 6.6% to 12,119 units in March 2026 compared with 11,374 tractors sold in March 2025.

SML Mahindra rose 4.92% after the company said that it had sold 2,457 units in March 2026, registering a growth of 6% from 2,315 units sold in the same period last year.

VST Tillers Tractors jumped 3.12% after the company reported a 37.4% decline in total sales to 4,940 units in March 2026, down from 7,892 units sold in March 2025.

Ashok Leyland declined 3.24%. The company reported a 5% jump in total sales (domestic & exports) to 25,381 units in March 2026, compared with 24,060 units sold in March 2025.

Stocks in Spotlight:

InterGlobe Aviation surged 6.01% after the company announced the appointment of William Walsh as chief executive officer, subject to regulatory clearance from the Ministry of Civil Aviation. The appointment comes after the departure of former CEO Pieter Elbers, who stepped down on 11 March 2026 following a period marked by operational disruptions, including widespread flight cancellations.

Ceinsys Tech climbed 11.03% after the company announced that it has received an acceptance letter worth Rs 41.26 crore from the Maharashtra Housing and Area Development Authority (MHADA).

MTAR Technologies surged 3.85% after the company announced that it has received a purchase order valued at $3,783,456 (Rs 35.56 crore) for the supply of various products for data centre infrastructure.

Indian Renewable Energy Development Agency (IREDA) jumped 4.21% after the company reported a 22% increase in its outstanding loan book to Rs 93,075 crore as of 31st March 2026, compared with Rs 76,282 crore as of 31st March 2025.

Adani Ports & Special Economic Zone (APSEZ) jumped 5.47% after the company announced that it has surpassed the landmark milestone of 500 million tonnes of cargo handled.