Sensex Jumps 400 Points, Nifty Surpasses 24,150 as Easing Crude Prices Boost Market

Market Report: Domestic Markets Climb Amid Global Cues and Oil Price Decline

Key Figures:

• Nifty: 0.7% rise to 24,195
• Sensex: 0.8% rise to 78,149.59
• Oil prices: Fell after reaching a three-year high due to US President Donald Trump's comments on the Middle East war

Market Analysis:

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The domestic markets experienced a significant recovery in early trade on Tuesday, following a sharp decline in the previous session. The Nifty and Sensex indices rose by 0.7% and 0.8%, respectively, to 24,195 and 78,149.59. The recovery was driven by firm global cues, with major US stock indices surging in the final hour of trading.

Global Cues:

• US stock indices:

• Nasdaq: 308 points or 1.4% rise to 22,695
• S&P 500: 55 points or 0.8% rise to 6,795
• Dow: 239 points or 0.5% rise to 47,740

• Oil prices: Fell after reaching a three-year high due to US President Donald Trump's comments on the Middle East war, easing concerns about prolonged disruptions to global oil supplies.

Domestic Market Factors:

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• Rupee: Recovered after Trump's comments calmed the oil market
• India Vix: Declined by over 12% to 20.48, indicating a decrease in market volatility

Technical Outlook:

According to Anand James, Chief Market Strategist at Geojit Investments Limited, the market is expected to experience a vertical rise to 24,300-37,000, followed by consolidation or dips. However, a direct rise above this level could lead to a target of 25,000.