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Rs 5 lakh crore gains! Sensex soars 787 pts, Nifty reclaims 22,950; Iran-US ceasefire framework, 3 other factors behind the rally
Indian stock markets staged a remarkable recovery, erasing morning losses to turn positive by afternoon. This surge was primarily fueled by media reports of a Pakistan-brokered Iran-US ceasefire framework, significantly boosting investor confidence. Key sectors like Consumer Durables led the gains, while Reliance Industries bucked the trend.
Quick Wrap: Nifty Media Index rises 3.35%
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Benchmarks rally for 3rd day; media shares surge
Media, IT and auto shares surged while metal and FMCG shares declined.
Sensex gains 548 pts; media shares advance
At 14:30 IST, the barometer index, the S&P BSE Sensex surged 548.02 points or 0.73% to 76,050.87. The Nifty 50 index rose 177.05 points or 0.76% to 23,575.85.
Sensex jumps 939 pts, Nifty tops 23,400 on value buying in large caps
Domestic equity benchmarks ended sharply higher on Monday, supported by value buying in select large-cap stocks as investors assessed the potential fallout of the ongoing U.S.-Iran conflict. Sentiment improved after media reports indicated that Donald Trump is likely to announce in the coming days the formation of an international coalition to escort commercial shipping vessels through the Strait of Hormuz, as the conflict with Iran enters its third week. U.S. officials reportedly said the White House could unveil the initiative as early as this week. However, overall sentiment remained cautious amid persistent FII outflows and elevated crude oil prices due to ongoing tensions involving Iran, Israel and the United States. The Nifty closed above the 23,400 mark, led by gains in auto, financial services and private banking stocks.
PhonePe delays IPO plans amid market volatility: Report
According to media reports, the company has temporarily deferred its public market listing amid rising uncertainty in global markets following the conflict in West Asia. The report said PhonePe may restart the IPO process once conditions in capital markets stabilise.
Bandhan Bank slumps after reports of promoter stake sale plan
Bandhan Bank fell 8.12% to Rs 161.35 after media reports said its promoter, Bandhan Financial Services, is exploring options such as a stake sale or an initial public offering (IPO) to facilitate investor exits.
IDBI Bank divestment scrapped? LIC, govt-owned bank clarifies after stock tanks
IDBI Bank has responded to media speculation regarding the government's proposed majority stake sale. The bank stated it cannot confirm or deny reports suggesting the sale might be scrapped due to low bids. IDBI Bank clarified that the strategic disinvestment process is confidential and managed by the government. The bank has not received any official communication about the sale's cancellation.
Motilal Oswal top picks: VA Tech order strength, RIL refining upside, Eternal valuations attractive
Investors are not showing panic despite geopolitical tensions, though many are reviewing portfolios and seeking safer sector exposure, according to Siddhartha Khemka of Motilal Oswal. The brokerage remains positive on VA Tech Wabag citing a ₹16,000-crore order book and strong West Asia demand. It also sees opportunity in quick commerce stocks like Eternal and Swiggy after valuation corrections, while Reliance Industries’ O2C business could benefit from higher refining margins. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Sensex tumbles 829 pts; Nifty sinks below 23,650 mark; VIX advance 2.16%
Nifty ended below the 23,650 mark. Auto, FMCG and realty shares declined, while oil & gas, metal and media shares advanced.
Talent wars heat up: Tech giants turn to influencers for viral job hunts on social media
India’s top tech firms are partnering with social media influencers to run viral recruitment campaigns targeting Gen Z and AI talent. These high-paying collaborations are evolving to include ‘internal influencers’ as companies prioritize authenticity over traditional ads.
US Didn’t Escort Tanker Through Hormuz, Refuting Wright Post
The US said no oil tanker has been escorted by its navy through the Strait of Hormuz, refuting an earlier, since-deleted social media post by Energy Secretary Chris Wright.