Sensex jumps 787 points; Nifty nears 23k level on softening crude oil prices

Benchmark indices Sensex and Nifty staged a sharp rebound on Monday (April 6, 2026) after falling in early trade following a correction in crude oil prices amid reports of ceasefire efforts in the ongoing West Asia war.

Intense buying in banking and IT stocks, and a strengthening rupee, supported investor sentiment, traders said.

In a volatile session, the 30-share BSE Sensex jumped 787.30 points, or 1.07%, to settle at 74,106.85. During the day, it surged 887.91 points, or 1.21%, to 74,207.46.

A total of 3,207 stocks advanced, while 1,147 declined and 190 remained unchanged on the BSE. The 50-share NSE Nifty edged higher by 255.15 points, or 1.12%, to end at 22,968.25.

“The recovery was primarily driven by reports of a potential ceasefire framework in the Middle East, which helped stabilise crude prices after the initial uptick and improved global risk sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd., said.

On the other hand, Reliance Industries and Sun Pharma were the laggards.

Equity indices opened on a positive note, but faced profit booking in the first half, creating some intraday pressure. However, strong buying emerged in the second half, driving a sharp upside move and helping the benchmarks close at higher levels, said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited.

Sectorally, BSE PSU Bank surged 2.37%, Consumer Durables (2.30%), Private Banks index (2.15%), Financial Services (2.12%), BSE Top 10 Banks (2.07%), Bankex (2.03%) and utilities (1.94%).

Consumer durables emerged as the top performer, supported by a strong demand outlook and interest in consumption-led themes. IT stocks also outperformed, with the Nifty IT index gaining on the back of rupee movements and defensive buying amid geopolitical uncertainty, as currency weakness supports export-oriented earnings.

“Domestic equities staged a strong rally as value buying gained traction across the board. Crude prices softened marginally on reports of ceasefire efforts, while encouraging provisional banking data supported interest in rate-sensitive segments,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

However, overall risk appetite remains cautious due to persistent inflationary pressures and concerns over potential disruptions to global trade, he added.

Brent crude, the global oil benchmark, dropped 0.71% to $108.3 per barrel.

The rupee gained 14 paise to close at 93.04 (provisional) against the U.S. dollar on Monday (April 6).

In Asian markets, South Korea’s benchmark Kospi and Japan’s Nikkei 225 index ended higher. Markets were closed in Hong Kong and Shanghai for a holiday.

“The rebound was supported by reports of potential U.S.-Iran ceasefire talks, which improved global risk sentiment and eased concerns over prolonged geopolitical tensions…The recovery was further aided by buying in IT and banking stocks, supportive global cues, appreciation in the rupee and a marginal decline in the India VIX (-0.2%), which helped restore investor confidence after recent declines,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

U.S. and domestic equity markets were closed on Friday (April 3) for Good Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 9,931.13 crore on Thursday (April 2), according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth ₹ 7,208.41 crore.

On Thursday (April 2), the 30-share BSE Sensex settled higher by 185.23 points, or 0.25%, at 73,319.55. The Nifty closed at 22,713.10, up by 33.70 points, or 0.15%.

Published – April 06, 2026 06:09 pm IST