Sensex, Nifty open in green after Wall Street gains; VIX slumps 10.01%

The domestic equity indices traded with decent gains in early trade, tracking a recovery in Asian markets that was driven by a modest improvement in risk sentiment following concerns over the escalating war in the Middle East.

The Nifty traded above the 24,550 mark. IT and FMCG shares declined while all other indices traded in the green on the NSE.

At 09:30 IST, the barometer index, the S&P BSE Sensex, soared 248.29 points or 0.28% to 79,364.88. The Nifty 50 index jumped 86.95 points or 0.34% to 24,563.65.

The broader market, the BSE 150 MidCap Index added 0.97% and the BSE 250 SmallCap Index jumped 0.83%.

 

The market breadth was strong. On the BSE, 2,288 shares rose and 823 shares fell. A total of 167 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 8,752.65 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 12,068.17 crore in the Indian equity market on 04 March 2026, provisional data showed.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 10.01% to 19.02.

Stocks in Spotlight:

Magellanic Cloud added 2.19% after the company announced that its wholly owned subsidiary, Provigil Surveillance, has received a Letter of Acceptance (LoA) valued at Rs 6.16 crore from the South East Central Railway, Nagpur Division.

Neogen Chemicals rose 0.54%. The companys board said that it will meet on Saturday, 7 March 2026 to consider a fund raising proposal.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.06% to 6.665 compared with previous session close of 6.669.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.5850 compared with its close of 92.0500 during the previous trading session.

MCX Gold futures for 2 April 2026 settlement rose 0.58% to Rs 162,461.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 98.96.

The United States 10-year bond yield added 0.83% to 4.117.

In the commodities market, Brent crude for May 2026 settlement jumped $2.29 or 2.81% to $83.69 a barrel.

Global Markets:

Asia market traded higher on Thursday, rebounding after several days of steep losses as sentiment improved following overnight gains on Wall Street and easing concerns over surging oil prices.

South Koreas Kospi jumped over 12%, staging a sharp rebound from its worst session recorded on Wednesday.

As per media reports, the rebound in South Koreas stock market was partly largely driven by a reversal of leveraged selling. A wave of margin calls among retail investors had triggered heavy selling earlier in the week, but once those positions were unwound the market began to recover, the reports added.

Other media report stated that the sell-off was mainly driven by the upside risk around oil prices stemming from the evolving geopolitical developments. Since South Korea is a major crude oil importer, uncertainty around how far oil prices could rise may weigh on the current account balance and add to inflationary pressures.

The U.S. Treasury Secretary Scott Bessent has reportedly said on Wednesday that Washington will roll out a series of measures aimed at stabilizing oil shipments through the Persian Gulf, signaling that the government is prepared to step in as geopolitical tensions threaten one of the worlds most critical energy corridors.

Chinas big policy meeting dubbed the Two Sessions, which kicked off on Wednesday, remained on investor's radar.

China has reportedly set its GDP growth target for 2026 at 4.5% to 5%, the lowest target on record going back to early 1990s, as Beijing grapples with persistent deflationary pressures and trade tensions with the United States. Beijing also kept its budget deficit target unchanged from last years around 4% of GDP

Overnight in the U.S., stocks rose, building on the momentum seen late in the previous session, as the surge in oil prices pulled back following developments in the U.S.-Israeli war on Iran and fears about a U.S. economic growth scare faded.

The Dow Jones Industrial Average added 238.14 points, or 0.49%, to close at 48,739.41. The 30-stock index snapped a three-day run of losses. The S&P 500 gained 0.78% and ended at 6,869.50, while the Nasdaq Composite moved 1.29% higher and settled at 22,807.48.

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