Indian Stock Markets Surge for Fifth Consecutive Day Following Ceasefire Agreement

Indian Equity Markets Extend Rally for Fifth Consecutive Session

The Indian equity markets continued their upward momentum on April 8, with the Nifty crossing the 24,000 mark intraday, amid easing global tensions following US President Donald Trump's announcement of a two-week ceasefire with Iran. This triggered a sharp fall in crude oil prices, driving the market's rally.

The market opened gap-up and sustained gains throughout the session, with benchmark indices surging 4 percent, marking their best single-day performance since May 2025. The broad-based buying across sectors and strong participation in broader markets contributed to the market's rally. The Sensex was up 2,946.32 points or 3.95 percent at 77,562.90, and the Nifty was up 873.70 points or 3.78 percent at 23,997.35. The Nifty Midcap and Smallcap indices added 4 percent each.

The market capitalisation of BSE-listed companies jumped more than Rs 16 lakh crore to Rs 445.57 lakh crore versus Tuesday's Rs 429.26 lakh crore.

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Key Market Developments

The Reserve Bank of India's Monetary Policy Committee (MPC) kept the benchmark repo rate unchanged at 5.25 percent for the second consecutive meeting, while maintaining a neutral stance amid ongoing geopolitical uncertainty. The central bank projected growth at 6.9 percent for FY27, with Q1FY27 GDP growth cut to 6.8 percent from 6.9 percent earlier, and Q2FY27 growth lowered to 6.7 percent from 7 percent.

Sectoral Performance

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All sectoral indices ended in the green, with Auto and Realty rising more than 6 percent, while consumer durables, oil & gas, telecom, infra, PSU Bank, and Private Bank advanced 3-5 percent.

Stock-Specific Action

Several stocks witnessed significant gains, including Titan Company, Life Insurance Corporation of India, Swan Defence and Heavy Industries, Prostarm Info Systems, InterGlobe Aviation, Angel One, GAIL (India), Aditya Birla Real Estate, and HFCL.

Outlook for April 9

Rupak De, Senior Technical Analyst at LKP Securities, predicts that the Nifty may remain strong, with the potential to move towards 24,265, a crucial resistance level. However, any fallout from the US-Iran truce talks could trigger panic among investors, potentially pushing the Nifty towards lower levels.