Stock Market Today: The domestic equity indices traded higher in early trade amid decent buying momentum. At the time of writing, BSE Sensex was trading at 77,301.13, up 283.34 points or 0.37 per cent, and Nifty50 was quoted at 24,138.95, up 106.15 points or 0.44 per cent.
The rally came after crude oil prices fell after US President Donald Trump claimed progress in talks to end the war with Iran. Positive trends in global markets helped lift domestic equity markets.
The 30-share BSE Sensex rose 657.22 points to 77,675.01 in early trade. The 50-share NSE Nifty rose 218 points to 24,250.85.
"Indian equity markets opened on a firm footing, with a cautiously improving bias, supported by strong buying interest in banking, auto and IT stocks, which helped lend stability to the broader indices. A key global development influencing sentiment is the temporary halt to the U.S. initiative aimed at facilitating safe passage through the Strait of Hormuz," said Ponmudi R, CEO of Enrich Money.
"Donald Trump indicated that the move was paused following signs of progress in ongoing negotiations with Iran. This has lent some support to global sentiment, with markets interpreting it as a tentative step toward de-escalation, even as underlying uncertainties remain," said Ponmudi.
Top Gainers And Losers
Indigo, Trent, Mahindra And Mahindra, Bajaj Finance, Tech Mahindra, Bharti Airtel, Bajaj FinServ, Eternal, TCS, and Tata Steel were top gainers from the Sensex basket.
L&T, Hindustan Unilever, Titan, Reliance, and PowerGrid traded lower.
Rupee Appreciates
The rupee appreciated by 23 paise to 94.95 against the US dollar in early trade amid a decline in Brent crude prices after US President Donald Trump hinted at a possible deal with Iran.