Sensex surges 855 pts; realty shares skyrocket
The headline equity benchmarks traded with strong gains, driven by a sharp decline in oil prices following the ceasefire agreement between the US and Iran. Market sentiment was further lifted by a strengthening rupee, adding to the overall positive momentum, and was further supported by the RBI?s Monetary Policy Committee (MPC) decision. The MPC kept the benchmark interest rate unchanged at 5.25% in its first policy meeting of the financial year 2026?27, under Governor Sanjay Malhotra.
The Nifty traded above the 23,950 mark during the session, while realty stocks extended their rally for the fifth consecutive trading day.
At 11:30 IST, the barometer index, the S&P BSE Sensex, climbed 2,891.25 points or 3.86% to 77,499.73. The Nifty 50 index soared 854.56 points or 3.70% to 23,977.75.
In the broader market, the BSE 150 MidCap Index surged 3.91% and the BSE 250 SmallCap Index jumped 3.75%.
The market breadth was strong. On the BSE, 3,745 shares rose and 416 shares fell. A total of 131 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 21.21% to 19.46.
RBI MPC outcome:
The Reserve Bank of India?s (RBI?s) Monetary Policy Committee (MPC) decided to keep policy repo rate unchanged at 5.25% while announcing its first policy decision of FY27 on Wednesday, April 8. The six-member panel, chaired by Governor Sanjay Malhotra, met over the past few days to review key issues. This review comes amid rising geopolitical tensions in the West Asia and a weakening rupee. In its last meeting in February 2026, the MPC had kept the repo rate steady at 5.25% after a cumulative 125-basis-point cut in 2025, adopting a cautious ?wait-and-watch? approach focused on stability.
Middle East conflict update:
The US and Iran have reportedly entered a temporary two-week ceasefire arrangement, with Pakistan acting as mediator and Islamabad set to host follow-up talks. The deal appears to be conditional, with the Strait of Hormuz at the center of the discussions; reporting suggests Iran would allow shipping access under military coordination, while the US would pause offensive action. The media outlets describe the broader framework as a proposal under discussion rather than a concluded peace deal, and Iran?s 10-point demands ? including sanctions relief, nuclear recognition, and US troop withdrawal ? remain unverified as agreed terms.
Buzzing Index:
The Nifty realty index climbed 6.89% to 746.70. The index soared 14.67% in five consecutive trading session.
Aditya Birla Real Estate (up 9.2%), Lodha Developers (up 8.69%), Prestige Estates Projects (up 8.59%), Phoenix Mills (up 7.13%), Sobha (up 7.07%), Godrej Properties (up 6.62%), DLF (up 6.52%), Anant Raj (up 5.35%), Brigade Enterprises (up 5.17%) and Oberoi Realty (up 5.13%) advanced.
Stocks in Spotlight:
Biocon added 1.82% after the company?s subsidiary Biocon Pharma announced the receipt of U.S. Food and Drug Administration (US FDA) approval for Dapagliflozin Tablets.
Hyundai Motor India jumped 4.83% after the auto maker said that the company has planned to increase the prices of its cars up to 1% across the portfolio, effective May 2026.
Life Insurance Corporation of India (LIC) soared 7.84% after the company's board scheduled to meet on Monday, 13 April 2026 to consider a proposal of bonus issue.
Global Markets:
Asia markets rose after Donald Trump said he had agreed to suspend planned attacks on Iran infrastructure for two weeks.
The move was subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, POTUS wrote on a social media platform.
Iranian Foreign Minister Abbas Araghchi in a post on a social media platform, on behalf of the country?s Supreme National Security Council, said Tehran?s armed forces will cease their defensive operations.?
Trump noted the 2-week ceasefire was subject to Iran agreeing to a complete, immediate and safe opening of the Strait of Hormuz. Araghchi said that safe passage via Hormuz Strait will be possible via coordination with Iran?s armed forces for the next two weeks.
Overnight on Wall Street, U.S. stocks ended mixed on Tuesday amid signs of progress in negotiations as the minutes ticked down to President Donald Trump's deadline for Iran to open the Strait of Hormuz.
The Dow Jones Industrial Average (DJI), fell 85.42 points, or 0.18%, to 46,584.46, the S&P 500 (SPX), gained 5.02 points, or 0.08%, to 6,616.85 and the Nasdaq Composite (IXIC), gained 21.51 points, or 0.10%, to 22,017.85.
In the last hour of trading, all three major U.S. stock indexes recovered from steep losses earlier in the session after Pakistan's Prime Minister Shehbaz Sharif said on a social media platform that diplomatic efforts for peaceful settlement of the ongoing war in the Middle East were progressing steadily while he urged Trump to extend his Iran deadline for two weeks and requested that Iran open the Strait for the same timeframe as a goodwill gesture.
