Stock market booms as US-Iran tension eases; Sensex crosses 78,500

The Indian stock market opened on a positive note on Thursday due to signs of easing tension between America and Iran. During this period, Sensex was at 78,677.56 with a gain of 566.32 points or 0.73 percent and Nifty was at 24385.20 with a gain of 153.90 points or 0.64 percent.

Realty and metal shares were leading the rise in the market. For this reason Nifty Realty and Nifty Metal were the top gainers among the indices. Almost all the indices were in the green with Nifty India Defence, Nifty Consumer Durables, Nifty Financial Services, Nifty PSU Bank, Nifty Services and Nifty Private Bank in the green.

Along with largecap, midcap and smallcap are also seeing growth. The Nifty Midcap 100 index was up 515.80 points or 0.88 per cent at 59,293.55 and the Nifty Smallcap 100 index was at 17,344.35, up 187.95 points or 1.10 per cent.

Eternal, Bajaj Finance, Infosys, Tech Mahindra, L&T, TCS, Trent, BEL, Bajaj Finserv, HCL Tech, Tata Steel, ICICI Bank, Asian Paints, M&M, SBI, HDFC Bank, Axis Bank, NTPC, Adani Ports, ITC, Bharti Airtel, Kotak Mahindra Bank and HUL were the gainers in the Sensex pack. Sun Pharma and Titan were the only losers.

The reason for the rise in the market is believed to be the reduction in tension between America and Iran. According to American media, progress has been made between the two sides, however, some differences still remain.

On the other hand, US President Donald Trump has claimed that the leaders of Israel and Lebanon can talk on Thursday. This can bring peace on a large scale throughout the world.

Asian markets also continue to rise. Tokyo, Seoul, Hong Kong and Shanghai were in the green. However, US markets closed mixed on Wednesday, with the main index Dow Jones closing marginally down by 0.15 per cent. At the same time, technology index Nasdaq closed with a huge rise of 1.59 percent.