The Sensex and the Nifty 50 jumped more than 1% each on Monday, April 6. (An AI-generated image)Table Of ContentsWhy did the stock market rise todayRupee gainsCrude oil prices fall more than 1%Top gainers and losers in the Nifty 50 indexAI Quick ReadThe Indian stock market ended with strong gains on Monday, April 6, with the benchmark indices rising more than 1% each, amid mixed global cues, easing crude oil prices, and further recovery in the Indian rupee.
Extending gains for the third consecutive session, the Sensex ended 787 points, or 1.07%, higher at 74,106.85, while the Nifty 50 settled at 22,968.25, rising 255 points, or 1.12%. The BSE 150 Midcap index gained 1.30%, while the BSE 250 Smallcap index rose by 1.10%.
Investors' wealth rose by more than ₹5 lakh crore in a single session as the overall market capitalisation of BSE-listed firms rose to over ₹427 lakh crore from ₹422 lakh crore in the previous session.
The market ended higher amid reports that the United States and Iran may be considering a two-phase framework to end the war in West Asia.
According to Reuters, Pakistan has proposed a two-phase framework to end the US-Iran war.
The report added that all elements must be agreed upon by Monday (6 April) for an immediate ceasefire in the war that could reopen the Strait of Hormuz.
Moreover, the rupee further rose amid a decline in crude oil prices, which also influenced sentiment.
"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," Vinod Nair, Head of Research, Geojit Investments, noted.
"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," Nair said.
According to Bloomberg data, the Indian rupee rose by 4 paise to close at 93.06 per US dollar. During the day, the domestic currency stayed in the range of 92.79 to 93.15. The domestic unit hit a record low of 95.23 on March 30.
Brent Crude prices declined more than 1% to trade near $108 per barrel on Monday afternoon (IST), offering relief to investors. The decline in crude oil prices followed reports that suggested the US and Iran may be considering a ceasefire and that the Strait of Hormuz may reopen.
Shares of Trent, SBI Life Insurance Company, and Titan Company ended as the top gainers in the Nifty index, rising 4-8%, while those of Reliance Industries, ONGC, and Max Healthcare Institute ended as the top losers in the index, falling 1-3%.
(This is a developing story. Please check back for fresh updates.)
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Nishant is a market reporter at Mint, where he holds the official designation of Principal Correspondent – Markets. He has been closely tracking the Indian stock market as well as major global stock markets along with the broader macroeconomic trends for a decade.
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He is obsessed with breaking down complex financial and economic concepts into clear and engaging stories. He focuses not only on what is happening in the markets, but also why it matters.
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With nearly 10 years of experience in covering financial markets, Nishant has covered bull markets, corrections, policy transitions, and macro developments that has equipped him with a deep understanding of how domestic and global forces shape markets and affect investments.
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Before joining Mint, Nishant worked with some of India’s most respected business newsrooms, including The Economic Times and Moneycontrol, where he reported extensively on the stock market, corporate earnings, macroeconomic trends, GDP, inflation, monetary policies of the RBI and the US Federal Reserve, bonds, and currencies.
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Apart from economics and investing, he has interests in geopolitics and emerging technologies, such as AI.