The understanding for a ceasefire between India and Pakistan brought cheers for investors who were richer by more than Rs 16 lakh crore in a single day — as Sensex and Nifty gained a massive nearly 4 per cent in a bull rally seen after February 2021.

The Indian stock markets delivered their best single-day performance in four years, as positive global and domestic cues boosted market sentiment.

At the close of trade, Sensex soared 2,975.43 points, or 3.74 per cent, to end at 82,429.90, while Nifty jumped 916.70 points, or 3.82 per cent, to finish at 24,924.70.

This was the second-biggest percentage gain for both indices in the last four years, with the only larger rally recorded on February 1, 2021, when the indices rose over 4.7 per cent.

The bull rally came amid a string of encouraging developments, including an understanding for a ceasefire between India and Pakistan, a breakthrough in US-China trade talks, and reports of peace negotiations between Russia and Ukraine.

These developments helped ease geopolitical tensions, improving the global risk appetite and lifting investor confidence.

All sectoral indices ended in the green, showing a broad-based recovery across sectors.

Even the Nifty Pharma index, which had opened with a 2 per cent loss after US President Donald Trump’s comments about slashing drug prices by up to 80 per cent, managed to close 0.15 per cent higher as the market shrugged off the concerns.

Leading the charge were the Nifty IT and Nifty Realty indices, which rose 6 per cent and 7 per cent respectively. Midcap and smallcap stocks also joined the rally, outperforming the broader market with gains of 4.1 per cent each.

The total market capitalisation of all companies listed on the BSE climbed to Rs 432.47 lakh crore, up from Rs 416.52 lakh crore in the previous session — a gain of Rs 16 lakh crore in a single day.

According to analysts, markets opened the week on a strong footing, driven by supportive global and domestic cues.

“All major sectors contributed to the rally, with IT, realty, and metals leading the gains. The broader markets also mirrored this strength, each advancing close to 4 per cent,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

The easing of geopolitical concerns and progress on global trade talks brought significant relief to the markets, reflected in a sharp drop in the India VIX volatility index.

Technically, the sharp rise in the Nifty marks a continuation of the uptrend following a three-week consolidation phase. Having crossed the previous swing high of around 24,857, the index is now poised to inch towards the 25,200 level, while the 24,400-24,600 zone is expected to offer strong support on any dip, said Mr Mishra.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

The Uttar Pradesh Cabinet has approved the signing of a power purchase agreement (PPA) between the Uttar Pradesh Power Corporation Limited (UPPCL) and Adani Power Limited (APL) for the supply of 1,600 MW of power over a period of 25 years.

APL had secured the bid through a competitive bidding process conducted in October 2024.

The power will be supplied from a new plant that will be set up in Uttar Pradesh.

Uttar Pradesh had launched a tender to source power from a 1,600 MW thermal power plant to be set up in the state.

In February this year, Adani Saur Urja (LA) Limited, a wholly-owned subsidiary of Adani Green Energy, secured a major contract from UPPCL for energy storage capacity.

“Adani Saur Urja (LA) Limited, a Wholly-owned Subsidiary of the Company, has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation Limited (UPPCL) for the procurement of 1,250 MW energy storage capacity from Pumped Hydro Storage Projects,” Adani Green Energy had said in a regulatory filing.

Under the awarded contract, the annual fixed cost payable for the project is set at Rs 76,53,226 per MW per year, excluding taxes. The agreement will remain in effect for 40 years from the project’s commercial operation date (COD), the company said in its filing.

The project, Panaura PSP, will be located in Uttar Pradesh’s Sonbhadra district and is expected to be completed within the next six years.

India’s clean energy goal necessitates the development of large utility-scale storage projects to integrate renewables into the grid and provide round-the-clock renewable energy.

Meanwhile, Adani Power reported a 21.4 per cent jump in consolidated continuing profit before tax (PBT) at Rs 13,926 crore in FY25, compared to Rs 11,470 crore in FY24, due to improved EBITDA and lower finance costs.

The Adani Group company registered a 10.8 per cent rise in consolidated continuing total revenues at Rs 56,473 crore in FY25 compared to Rs 50,960 crore in FY24, supported by higher sales volumes, offset partially by lower tariff realisation.

Continuing revenues exclude one-time prior period income recognition. Continuing EBITDA for FY25 grew 14.8 per cent to Rs 21,575 crore, according to the company.

For Q4 FY25, consolidated continuing total revenue was higher by 5.3 per cent at Rs 14,522 crore compared to Rs 13,787 crore in Q4 FY24, primarily due to higher volume, offset by lower tariff realisation.

In a significant achievement, the company reached 102.2 billion units (BU) of power generation in FY25, up by 19.5 per cent from 85.5 BU in FY24.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Indian equity indices opened on a flat note on Tuesday following mixed global cues and geo-political tensions.

At 9:18 am, Sensex was down 11 points at 80,785 and Nifty was down 8 points at 24,452.

Selling was seen in the midcap and smallcap stocks. Nifty midcap 100 index was down 126 points or 0.23 per cent at 54,548 and Nifty smallcap 100 index was down 61 points or 0.37 per cent at 16,547.

From a technical perspective, the Nifty 50 continues to trade in a narrow consolidation range, forming a neutral candlestick pattern on the daily chart, said experts.

“A decisive move above 24,500 could pave the way for an up move towards 24,700 and 24,800. On the downside, support is seen at 24,200 and 24,000, where traders may find buying opportunities on dips,” said Mandar Bhojane from Choice Broking.

On the sectoral front, auto, FMCG and private bank were major gainers. Pharma, realty, and media were major laggards.

In the Sensex pack, M&M, Bharti Airtel, Bajaj Finserv, HUL, Nestle, Tata Steel, Axis Bank, HUL, L&T, IndusInd Bank and ITC were top gainers. Sun Pharma, Tata Motors, Titan, Eternal, SBI, TCS, Bajaj Finance and Ultratech cement were major laggards.

Most Asian stock markets were trading in the green. Shanghai and Hong Kong were trading with gains as optimism over potential US-China trade talks boosted investors’ sentiment.

Other major regional markets, including Japan and South Korea, remained shut due to public holidays. Meanwhile, US markets closed in the red in the last trading session.

On the institutional front, FIIs continued their buying streak on May 5 with net equity purchases of Rs 497 crore, while DIIs remained strong buyers, investing Rs 2,788 crore.

This sustained inflow from both domestic and foreign investors reflects underlying market confidence, despite global uncertainties, said experts.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)