Indian equity indices are in top gear in Thursday’s trading session as the ceasefire between Iran and Israel remains in place. The NSE Nifty 50 surged over 300 points to trade above 25,500, while the BSE Sensex soared 1,000 points to 83,700.
In line with the overall bullish market sentiments, Bank Nifty hit a new high, touching the mark of 57,076.95. The Nifty Midcap 100 was up 0.11% at 58,950.
“With a ceasefire between Israel and Iran, global markets are in a risk-on mode. But since the reciprocal tariff issue remains to be addressed, a sustained rally would be difficult. The market focus in the near term will be on what transpires around July 9th when the 90-day pause of the reciprocal tariff ends. Which countries will succeed in negotiating bilateral trade deals with the US will be keenly watched. Positive news on a potential India-US deal will be a shot in the arm for the market. Disappointment on this front will constrain the rally,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Here are key highlights from the early session-
Top performers leading the charge
Among the top gainers on the Nifty 50 were Bharat Electronics, Jio Financial Services, JSW Steel, Tata Steel, and Bajaj Finance. The top movers in the Nifty 50 were Bharti Airtel, Reliance Industries, ICICI Bank, Bajaj Finance, and HDFC Bank as soon as markets opened.
Stocks in the red
The stocks that remained under pressure included Dr Reddy’s Lab, Tech Mahindra, Kotak Mahindra Bank, SBI, and Infosys, which were the laggards in the morning trade.
Iran–Israel conflict
The ceasefire between Israel and Iran remains intact. US President Donald Trump claimed he mediated the truce, saying both countries approached him seeking peace. Despite the agreement, Iran allegedly launched a missile strike, and Israel responded with an offensive near Tehran. Trump criticised both nations on live television and urged Israel to halt further attacks.