SENSEX rises 400 pts, NIFTY tops 24,100 amid easing oil prices, hopes of de-escalation in West Asia; India VIX down 12%, IndiGo up 4%

In the early trade, the S&P BSE SENSEX stood at 77,966.57, up 400.41 points, or 0.52%, while the NSE's NIFTY50 index was trading 128.55 points, or 0.53%, higher at 24,156.60 levels.

The SENSEX hit a high of 78,526.25 in the opening deals.

Oil prices fell over 10% on Tuesday after US President Donald Trump said he was considering seizing control of the Strait of Hormuz, the most important chokepoint in the world for the crude market. Trump also told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much".

Following this, Asian stocks also gained. South Korea’s Kospi opened more than 5% higher Tuesday.

Other Asian stock indexes also gained. The small-cap Kosdaq added over 4%.

Australia’s S&P/ASX 200 rose 1.35% in early trade.

Japan’s Nikkei 225 jumped 1.66%, while the Topix gained 1.3%.

Hong Kong’s Hang Seng index rose 1.56%, while the CSI 300 gained 0.9%.

Wall Street update

In the overnight trade, major indices made a sharp turnaround after President Donald Trump said the war against Iran could be reaching its end.

The S&P 500 rose 0.83% to close at 6,795.99, while the Dow Jones Industrial Average added 239.25 points, or 0.5%, and ended at 47,740.80. The Nasdaq Composite jumped 1.38% and settled at 22,695.95.

Top gainers & losers

On the SENSEX pack, IndiGo (InterGlobe Aviation) was the top gainer – up nearly 4%, followed by Asian Paints and UltraTech Cement. On the other hand, the top losers were Reliance Industries (RIL) – down over 1% – and Infosys (down 0.79%).

On the NSE's benchmark index, NIFTY50, eight stocks traded in the green and the rest in the red.

The volatility index, India VIX, was down 11.83% at 20.60 levels.

The volatility index is a measure of the market's expectation of volatility over the near term. Volatility is often described as the “rate and magnitude of changes in prices," and in finance is often referred to as "risk".

The volatility index is a measure of the amount by which an underlying index is expected to fluctuate in the near term (calculated as annualised volatility, denoted in percentage, e.g., 20%) based on the order book of the underlying index options.

Buzzing Stocks

Mid- and small-cap stocks

The NIFTY MIDCAP 100 index was trading 499.75 points, or 0.89%, while the NIFTY SMALLCAP 100 index was up over 1%.

Equity benchmark indices, SENSEX and NIFTY50, nosedived nearly 2% on Monday as soaring crude oil prices and weak global trends due to the worsening situation in West Asia triggered a sharp sell-off in the stock market.

Besides, the unabated foreign fund exodus and the weakness in the rupee against the US dollar weighed heavily on investors' sentiment, traders said.