Market Close: Sensex rises for 3rd day, up 787 pts, Nifty tops 22,950 on US-Iran ceasefire hopes

Stock Market LIVE Updates: For the third consecutive trading session, the benchmark index Nifty managed to close in positive territory, indicating a gradual easing of selling pressure at lower levels. Notably, the index has closed above its 10-day EMA for the first time since February 23, reflecting an improvement in short-term price momentum after a prolonged corrective phase.

 

Adding to the positive undertone, the daily RSI has moved above the 40 mark and is now trading above its 9-day EMA. This subtle but meaningful shift suggests that bearish momentum is waning and market sentiment is gradually transitioning from a strongly bearish stance toward a more neutral or sideways bias.

 

Going ahead, 23080–23100 will act as a key hurdle for Nifty. A sustainable move above 23100 could extend the pullback rally toward 23250. On the downside, 22800–22750 remains a crucial support zone for the index.

 

View by: Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

 

Stock Market LIVE Updates: Domestic equities staged a strong rally as value buying gained traction across the board, with oversold sectors such as Finance, Realty, and Midcaps showing notable strength. Crude prices softened marginally on reports of ceasefire efforts, while encouraging provisional banking data supported interest in rate‑sensitive segments. However, overall risk appetite remains cautious due to persistent inflationary pressures and concerns over potential disruptions to global trade. With the RBI policy, US CPI, crude trajectory, and geopolitical developments all converging this week, markets are likely to remain headline-driven. Given the deep discount in the broader market, there is meaningful upside potential if a credible ceasefire emerges, despite the prevailing sell‑on‑rise trend.

 

View by: Vinod Nair, Head of Research, Geojit Investments

 

Stock Market LIVE Updates: From the 30-Sensex firms, Trent surged nearly 8 per cent following a strong Q4 business update. Axis Bank, Titan, L&T, UltraTech, Bajaj Finance and IndiGo were the other major gainers.

 

Stock Market LIVE Updates: The broader indices also staged a sharp rebound and closed in the positive territory. The Nifty Midcap 100 added 1.5 per cent, while the Nifty Smallcap 100 gained 1.3 per cent.

 

Stock Market LIVE Updates: On the sectoral front, a broad-based buying was seen in the last one hour. Barring the Nifty Media and Nifty Oil & Gas, all the other indices closed in the green.

 

Stock Market LIVE Updates: The Nifty 50 index zoomed 255.15 points or 1.12 per cent to settle at 22,968.25. 

 

Stock Market LIVE Updates: Sensex rebounded sharply from the day’s low to close 787.30 points or 1.07 per cent higher at 74,106.85. The sudden rebound followed media reports claiming a Pakistan-brokered ceasefire framework between the US and Iran.

Stock Market LIVE Updates: Share price of Larsen & Toubro (L&T) rose 3 per cent to ₹3,715 on the BSE in Monday’s intra-day trade. The stock price of the engineering and construction (E&C) major traded higher for the third straight day, gaining 6 per cent during the period. Read more. 

Stock Market LIVE Updates: Indian equity benchmark indices Sensex and Nifty witnessed a solid rebound on Monday, April 6, driven by hopes of a ceasefire between the US and Iran, a stronger rupee and a rally in banking and financial services stocks. Read more.