Sensex Rebounds on US-Iran Deal Hopes

India’s BSE Sensex rose about 1.5% to 78,010 on Wednesday, rebounding from losses in the previous session and tracking other Asian peers, lifted by renewed hopes for US-Iran peace talks that drove oil prices below $100 per barrel. US President Trump said discussions with Iran could resume in Pakistan within the next two days after collapsing last weekend, reinforcing expectations of a de-escalation in the conflict. On broader corporate developments, ICICI Prudential AMC reported strong profit growth on robust retail inflows, Swaraj Engines posted solid earnings gains reflecting rural demand strength, Hindustan Zinc secured a new mineral block to expand resources, and HG Infra Engineering won a 5.19 billion rupee contract, highlighting continued momentum in India’s financial, industrial, and infrastructure sectors. HDFC Bank, Bharti Airtel, Vedanta, and Reliance Industries saw gains of 0.6%-1.7%, while Infosys rose 3.3%, Hindalco added 3.8%, and Billionbrains jumped 5.3%.

India’s BSE Sensex cut early deep losses but still closed about 0.9% down at 76,848 on Monday, as investor sentiment deteriorated amid renewed doubts about the Middle East ceasefire and a spike in crude oil prices. Weekend US-Iran talks ended without a deal, while the US announced a blockade of the Strait of Hormuz, heightening fears of a prolonged energy supply shock. All sectors saw declines, led by consumer discretionary, financials and tech companies. Auto stocks were the worst hit, with Maruti Suzuki falling 4.6% on higher oil prices and reports of Delhi’s draft EV policy proposing broad exemptions to curb air pollution. Bajaj Finance (-2.8%), InterGlobe Aviation (-2.8%), Tata Consultancy Services (-2.1%) and HDFC Bank (-2.%) were also among the biggest laggards. Reliance Industries fell 2.6% after the government raised export duty on diesel and aviation turbine fuel. The Indian stock market will be closed on Tuesday, April 14, on account of Dr Baba Saheb Ambedkar Jayanti.

The SENSEX Index dropped -756 points or 0.97 percent on Monday to close at 76795 points. Losses were led by Maruti Suzuki (-4.62%), Bajaj Finance (-2.93%) and Reliance Industries (-2.68%). Offsetting the fall, top gainers were ICICI Bank (1.85%), NTPC (1.62%) and Tata Motors (0.99%).