The Sensex and the Nifty 50 rose by almost 1% on 21 April. (An AI-generated image)AI Quick ReadFrontline indices, the Sensex and the Nifty 50, ended with strong gains on Tuesday, 21 April, as the possibility of US-Iran peace talks weighed on crude oil prices and boosted the risk appetite of investors.
The Sensex rose by 753 points, or 0.96%, to end at 79,273.33, while the Nifty 50 ended with a healthy gain of 212 points, or 0.87%, at 24,576.60.
The mid and small-cap segments underperformed as the Nifty Midcap 100 index gained 0.49%, while the Nifty Smallcap 100 index rose by 0.88%.
The overall market capitalisation of BSE-listed firms rose to nearly ₹469 lakh crore from about ₹466 lakh crore in the previous session, making investors richer by about ₹3 lakh crore in a single session.
Nestle India, Hindustan Unilever, and Trent ended as the top gainers in the Nifty 50 index, which saw 35 members ending higher.
On the flip side, SBI Life Insurance Company, Bharat Electronics (BEL), and Jio Financial Services ended as the top laggards in the index.
Among the sectoral indices, Nifty Bank ended 1.39% higher, while the Financial Services index rose by 1.18%.
Nifty FMCG (up 2.55%) and Realty (up 2.14%) stole the limelight. Nifty Pharma (down 0.08%) and Consumer Durables (down 0.02%) slipped.
The Sensex and the Nifty 50 extended gains for the third consecutive session amid hopes that the US and Iran will end their conflict with a final and durable peace deal. Moreover, strong buying in banking and FMCG counters amid optimism over Q4 earnings also helped the benchmarks end in higher orbits.
Media reports suggest US Vice President JD Vance may leave for Islamabad by Tuesday morning (21 April, US Time) to resume negotiations with Iran, as the two-week ceasefire announced on 7 April will expire on 21 April.
Brent Crude prices declined by 1% amid hopes of a final US-Iran peace deal.
"Amid hopes for progress in Iran–U.S. peace talks and supportive global cues, India’s equity markets rebounded strongly. FMCG and realty stocks led the rally, backed by solid earnings updates, while banking stocks gained after the RBI eased forex restrictions," Vinod Nair, Head of Research, Geojit Investments, noted.
"In the near term, investors are expected to remain focused on corporate earnings, which are tracking in line with expectations, while monitoring developments in the US–Iran conflict and trends in the rupee and crude oil prices, where signals remain positive," said Nair.
(This is a developing story. Please check back for fresh updates.)
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