As optimism builds around a potential US-Iran peace deal, the Indian stock market extended its gains in Wednesday’s session, March 25, with key indices rising over 1.7%, offering a much-needed boost to Dalal Street sentiment.
The Nifty 50 ended the session with a 1.72% surge at 23,306, taking its two-day rally to 3.55%. The S&P BSE Sensex closed at 75,273, up 1.63% from the previous close. The broader markets also delivered a similar performance, with both the Nifty Midcap 100 and Nifty Smallcap 100 rising 2.3% and 2.6%, respectively.
Sector-wise, the Nifty Consumer Durables index topped the gains with a 3.51% surge, while the Nifty Realty, Nifty Chemicals, Nifty PSU Bank, Nifty Metal, and Nifty Auto indices all advanced over 2%. The Nifty IT index was the only sector to close with a modest gain of 0.08%.
Media reports indicated that the US is seeking a month-long ceasefire in its conflict with Iran and has presented Tehran with a 15-point proposal, raising hopes of a potential de-escalation.
US President Donald Trump said on Tuesday that Washington was making progress toward negotiating an end to the conflict. A source also confirmed the delivery of the settlement proposal to Tehran, Reuters reported.
Vinod Nair, Head of Research, Geojit Investments Limited, said, “The domestic rally was broad-based, supported by value-driven buying across sectors. India’s valuation premium, which had remained elevated for some time, has corrected to more reasonable levels, offering investors greater comfort at current market levels.”
PCBL Chemical tops gainers; gains spread across consumer durables, PSU banks and realty
PCBL Chemical was the top performer among Nifty 500 stocks, surging 13.7% to ₹265 apiece, marking its biggest single-day gain in recent years.
Meanwhile, Triveni Engineering, OneSource Specialty Pharma, Godfrey Phillips India, Balkrishna Industries, GE Vernova T&D India, and Sagility all rallied over 6.5%.
In the consumer durables space, Kalyan Jewellers shares jumped 5.4% to ₹391.8 apiece. It was followed by Voltas, Amber Enterprises India, Blue Star, Titan Company, Havells India, and PG Electroplast, which gained between 3% and 5.3%.
The PSU banking pack also closed higher, led by Indian Bank, whose shares advanced 4.5% to ₹911 apiece. Similar gains were seen in Union Bank of India and Central Bank of India, which rose 3.7% and 3.2%, respectively.
EMS stocks such as Kaynes Technology and Amber Enterprises India also gained 6% and 4.6%, respectively.
Real estate stocks, too, witnessed renewed buying, with Signatureglobal (India), Brigade Enterprises, Oberoi Realty, and Phoenix Mills closing higher by 3.6% to 4.5%.
Extending its winning run for the second straight session, Reliance Power shares surged another 6% to ₹22.7 apiece.
Trident, Alkyl Amines lead losers as some stocks miss broader market rally
Even as the Indian stock market extended gains for the second consecutive session, select stocks lagged the rally, with Trident emerging as the top laggard among Nifty 500 stocks, falling 2.7% to ₹24.7 apiece and snapping its three-day winning streak.
Alkyl Amines Chemicals witnessed profit booking, falling 2.6% to ₹1,378 apiece. In the previous session, the stock had surged 14%. Saregama India was another major laggard, sliding 2.3% to ₹331.75 apiece.
Other stocks such as Vardhman Textiles, Inventurus Knowledge Solutions, Zensar Technologies, Tech Mahindra, and Bayer CropScience also declined, each falling over 1.5%.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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