Sensex jumps 1,096 pts; IT shares advance
The key equity benchmarks continued to trade with major gains in mid-morning trade, tracking a rally in global markets amid optimism over the resumption of US-Iran peace talks. Nifty traded above the 24,150 mark. IT shares advanced after declining over the past two trading sessions.
At 11:30 IST, the barometer index, the S&P BSE Sensex, surged 1,096.47 points or 1.43% to 77,944.04. The Nifty 50 index rose 349 points or 1.46% to 24,184.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.98% and the BSE 250 SmallCap Index added 2.12%.
The market breadth was strong. On the BSE, 3,519 shares rose and 629 shares fell. A total of 156 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 7.65% to 18.93.
Buzzing Index:
The Nifty IT index rose 2.28% to 31,369.05. The index rose 3.07% in the past two trading sessions.
Oracle Financial Services Software (up 4.54%), Tata Consultancy Services (up 2.64%), Persistent Systems (up 2.47%), LTIMindtree (up 2.35%) and Mphasis (up 2.17%), Wipro (up 2.15%), Infosys (up 2.15%), Coforge (up 1.89%), Tech Mahindra (up 1.45%) and HCL Technologies (up 1.22%) jumped.
Stocks in Spotlight:
ICICI Prudential Asset Management Company (AMC) dropped 3.55% after the company reported a 16.76% drop in consolidated net profit to Rs 763.42 crore on a 0.15% decline in revenue from operations to Rs 1517.01 crore in Q4 FY26 over Q3 FY26.
TANFAC Industries jumped 10.72% after the company announced that it has entered into a memorandum of understanding (MOU) for the supply of 5,000 MT per annum of its key fluorinated product with a large multinational company.
DCX Systems rallied 3.71% after the company has announced that it has secured orders worth Rs 31.64 crore for the manufacture and supply of cable and wire harness assemblies as well as printed circuit board assemblies (PCBAs).
Global Markets:
Asian markets traded higher on Wednesday, tracking overnight gains in U.S. stocks, as oil prices fell amid rising hopes of a diplomatic solution to the Middle East conflict.
Media reports suggested that a second round of negotiations between Washington and Tehran was under discussion. Nothing has been officially scheduled yet, the reports added.
?We?ve been called by the other side,? President Donald Trump said Monday. ?They?d like to make a deal very badly, he added.
Meanwhile, China?s finance ministry has reportedly said it will issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22.
Overnight on Wall Street, stocks rose on Tuesday following a strong session in which traders shrugged off a breakdown in peace talks between the U.S. and Iran yet were optimistic that a deal between the two countries was still possible.
The S&P 500 gained 1.18% and closed at 6,967.38. The broad market index now stands less than 1% below its 52-week high. The Dow Jones Industrial Average added 317.74 points, or 0.66%, to close at 48,535.99. The Nasdaq Composite advanced 1.96% and ended at 23,639.08.
Also helping sentiment was the release of March?s producer price index reading. The index recorded a rise in March, but the rise was considerably less than expected as the Iran war?s push on energy prices rekindled fears of another inflation burst.
The producer price index, a gauge of pipeline costs for final demand goods and services, increased a seasonally adjusted 0.5% for the month, well below the widely reported estimate for 1.1%, according to a Bureau of Labor Statistics report Tuesday.
