Shares of Interglobe Aviation, Tata Motors PV, Shriram Finace, Trent, Asian Paints gained the most benchmark indices Nifty and Sensex rose over 1% on Wednesday, May 6.
The indices rebounded sharply as sentiment improved on optimism around easing tensions between US and Iran
At 2:40 pm, the Nifty was up nearly 300 points, or 1.19%, at 24,319.90, while the Sensex surged over 880 points, or 1.14%, to 77,902.
Indigo parent's shares were leading the gains, rising as much as 7.7% to Rs 4565 apiece, followed Tata Motors PV shares, which surged 5.5% to Rs 358.9, Shriram Finance shares were 4.4% up to Rs 976.05, while Asian Paints stock jumped up to 4.03%. Meanwhile, Trent shares advanced 4.57% at Rs 4,157 per share.
The Washinton is nearing a one-page memorandum of understanding with Tehran to end the over two month long conflict, Axios reported citing US officials. The reported proposal aims to create a framework for more detailed nuclear talks. Following the development, brent crude for July delivery fell more than 7% to $101.75 per barrel, while US West Texas Intermediate dropped 7.6% to $94.78.
Nifty 50 ended more than 1.2% higher and closed above the 24,300 mark with InterGlobe Aviation and Tata Motors among the top gainers. Broader markets outperformed, with Nifty MidCap 150 and SmallCap 250 indices rising over 1.8%. Mid-cap gains were led by Coforge and Yes Bank, while Alkyl Amines and Valor were among top small-cap gainers.
Major sectoral indices ended in green, with PSU Bank and Realty leading gains. FMCG and Energy were the only sectors that closed lower, while Auto and Pharma extended their gaining streaks.
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