Market Wrap: Nifty, Sensex Surge over 1% as Iran-US Ceasefire Hopes ease Oil Concerns

Indian Stock Market Today: The Indian stock market ended Monday on a high note, with benchmark indices Nifty 50 and Sensex gaining over 1% after sharply recovering from early losses.

The rebound was driven by improving sentiment on hopes of a potential Iran–US ceasefire, which helped ease concerns around oil supply disruptions.

Market breadth remained strong, reflecting broad-based participation across segments. The Nifty Midcap and Smallcap indices advanced in the range of 1.3% to 1.5%.

Sectoral Performance: Banking, Realty Lead the Charge

The Nifty Bank index was the star performer, surging over 2% as financial stocks saw heavy buying.

• Top Gainers: Banking, Financial Services, and Nifty Realty (all up >2%).
• Laggards: The Oil and Gas and Media sectors were the only indices to close in the red, weighed down by earlier volatility in energy prices.

Technical Analysis: Nifty & Bank Nifty Levels

Nifty 50: Opened 67.20 points higher at 22,780.30, reached a high of 22,998.35 and closed at 22,968.25.

• Immediate Support: 22,880
• Immediate Resistance: 23,050

Bank Nifty: Opened 198.85 points higher at 51,747.60, reached a high of 52,704.55 and closed at 52,609.10.

• Immediate Support: 52,200
• Immediate Resistance: 52,800

Market Analysis: Key Trends

Top Trending Stocks Today

• Senco Gold: Stock surged 12% after a strong Q4 business update, driven by wedding season demand. Revenue grew 46%, with robust same-store sales growth (SSSG) of 34%.
• Trent: Stock gained 8% following a solid Q4 performance, with revenue rising 20% YoY to ₹4,937 crore. For FY26, total revenue increased 18% YoY to ₹19,701 crore.
• Vikran Engineering: Stock advanced 7% after securing two Letters of Award worth ₹530.80 crore from Maharashtra State Electricity Distribution Company.

Global Macro & Commodity Update

• Asian Markets: Most indices edged higher as investors monitored the Middle East conflict and shifting oil price dynamics.
• European Markets: Remained closed today, April 6, 2026, for the Easter Monday holiday.
• Crude Oil: Prices dropped by over $2/barrel as markets priced in the possibility of a successful US-Iran ceasefire talk.
• Gold Prices: Traded with a positive bias in thin volumes, supported by a cooling US Dollar Index (DXY).

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