Sensex gains 566 points, Nifty holds above 24,300 level
Crude stable near $95, global cues support market sentiment
Midcap, smallcap stocks outperform amid continued FII buying
Indian equity benchmark indices extended their upward momentum on Thursday, supported by strong global cues and stable crude oil prices, with both the Sensex and Nifty opening firmly in the green.
The 30-share BSE Sensex gained 566.32 points or 0.72% to open at 78,677.56, while the Nifty rose 153.9 points to start the session at 24,385.20. In the previous session, the Sensex had closed at 78,111.24 and the Nifty 50 at 24,231.30.
1 April 2026
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Broader markets also traded higher in early deals. The BSE Midcap select Index added 100.11 points, while the BSE Smallcap Select Index rose 63.89 points or 0.82% to 7,877.49, indicating continued buying interest beyond frontline stocks.
Market breadth remained strongly positive, with 2,159 stocks advancing against 195 declining on the NSE, while 59 shares remained unchanged.
Global Cues, Oil Stability Support Market Momentum
Among Nifty constituents, Hindustan Zinc, Vedanta, Tata Steel, JSW Steel and Hindalco Industries were among the major gainers, driven by strength in metal stocks. On the downside, ABB India, Nestle India, Sun Pharma, Tata Consumer Products and Coal India were among the key losers.
Sectorally, most indices traded in the green, with IT, realty, metals and media gaining around 1% each. Pharma remained the only sector trading in negative territory during early trade.
Positive global cues played a crucial role in supporting domestic markets. Gift Nifty signalled a firm start, opening 120.5 points higher at 24,370.
Asian markets also traded higher, tracking record highs in US equities. Japan's Nikkei 225 surged over 2.4%, while Hong Kong's Hang Seng gained 1.52%. South Korea’s Kospi and China's Shanghai Composite index also traded in positive territory.
Foreign Institutional Investors remained net buyers, purchasing equities worth ₹666.15 crore on April 15, while Domestic Institutional Investors turned net sellers with outflows of around ₹568.98 crore. Meanwhile, India VIX declined to 18.66, indicating easing volatility.
Crude oil prices remained stable, with Brent hovering near $95 per barrel and WTI around $91.65, as markets pinned hopes on an extension of the US-Iran ceasefire. The relative stability in oil prices helped ease concerns over inflation and India's import bill, supporting equity markets.
Markets Signal Early End to Conflict
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said global market trends indicate expectations of a limited duration for the ongoing conflict. "Brent crude has declined to around $95 from its recent peak of $119, while US indices have hit record highs. The message from markets is that the West Asian conflict is unlikely to last long," he said.
He noted that Indian markets have also staged a strong recovery, with the Nifty rebounding nearly 2,000 points from its recent lows after a 12% correction triggered by the conflict.
Vijayakumar added that broader markets have outperformed large caps. "Smallcap indices are already above pre-war levels, while midcaps are only marginally lower. In contrast, Nifty remains below pre-war levels due to heavy FII selling," he said.
He also highlighted that stocks hitting 52-week highs in a weak market environment indicate underlying strength and accumulation by institutional investors.
