Sensex Posts Second Consecutive Gain

India’s BSE Sensex rose about 1.3%, up at 75,042 on Wednesday, extending gains from the previous session, as the benchmark tracked advances across Asian markets amid reports of a possible US-proposed ceasefire with Iran, which helped ease concerns over oil prices. However, sentiment remains mixed due to lingering geopolitical tensions and uncertainty over the progress of talks. Indian markets have fallen about 9% this month, with the rupee hitting a record low and driving roughly $11.37 billion in outflows in March. On the data front, India’s HSBC composite PMI flash fell to 56.5 in March from 58.9 in February and below market expectations of 58.7, marking the weakest expansion since October 2022 amid the ongoing Middle East conflict. All equity sectors traded higher, led by heavyweight financials and consumer stocks. Early gainers included HDFC Bank (+2.7%), Sammaan Capital (+10%), BSE (+1.3%), Eternal (+2.2%), and Mahindra & Mahindra (+2.6%).

India’s BSE Sensex closed about 1.9% firmer at 74,068.45 on Tuesday, recouping part of the prior day's heavy losses. The rally followed a five-day postponement of planned US strikes on Iran’s power and energy infrastructure, which President Trump attributed to “productive talks” with Tehran. The move briefly raised hopes of potential de-escalation in the Middle East amid mixed signals from both sides. A major drag on the market, however, remained heavy selling by foreign investors. All sectors posted gains, as traders moved to buy quality stocks at discounted prices. Financials and banks rebounded sharply, rising more than 2%, with heavyweight lenders attracting strong buying interest. HDFC Bank gained 2.9% after approving the appointment of external law firms to review the resignation letter of former chairman Atanu Chakraborty. Other sectors including capital goods, auto and IT also advanced. Stocks such as L&T, IndiGO, Eternal, Asian Paints and Adani Ports saw gains up to 5.2%.

The SENSEX Index rose 1520 points or 2.09 percent on Tuesday to close at 74217 points. Leading the gains are Eternal Limited (5.79%), Larsen & Toubro (5.25%) and Bajaj Finance (4.85%).