Stock Market Today: Nifty +900, Sensex +3,000

Indian equities staged a powerful relief rally on Tuesday, with Nifty today jumping about 900 points to 24,014 and Sensex today surging roughly 3,000 points to 77,605. The trigger was a sharp swing in global risk sentiment after a US-Iran two-week ceasefire helped ease immediate fears around the Strait of Hormuz, sending crude prices lower and giving India an instant macro tailwind.

The second leg of support came from the RBI. The Monetary Policy Committee kept the repo rate unchanged at 5.25% and retained a neutral stance, offering investors policy continuity at a time when geopolitics had pushed energy prices higher in recent sessions.

A ceasefire that hit oil, lifted everything else

The day’s biggest driver was the collapse in oil risk premium. With a temporary ceasefire framework and assurances around commercial passage, the market rapidly repriced the odds of a prolonged supply shock. For India, which imports most of its crude, cheaper oil works through multiple channels: lower imported inflation risk, a more stable rupee, and improved visibility for corporate margins.

That macro reset showed up immediately on the screens. Rate sensitives and cyclicals led from the front, and the rally was broad enough to pull up heavyweight lenders and conglomerates.

RBI delivers the pause investors wanted

The RBI’s decision to hold the policy repo rate at 5.25% reinforced the market’s “no new surprises” stance. The central bank acknowledged inflation risks from geopolitical developments, but still signalled it is not rushing into tighter policy.

Alongside the rate call, the RBI published key projections that investors will use to anchor expectations:

• FY27 real GDP growth projected at 6.9%
• FY27 CPI inflation projected at 4.6%, with a quarterly path that reflects uneven pressures through the year

The RBI also unveiled its first-ever core inflation projection for FY27 at 4.4%, and indicated it will publish core projections going forward. For markets, that adds another reference point when trading the rate cycle, bond yields and bank stocks.

What the rally said about risk appetite

The speed of the move suggested investors were positioned cautiously into the geopolitical flare-up and were quick to add risk when oil cooled. The rebound also reflected how sensitive India’s equity risk premium is to energy and currency stability. When crude breaks lower, equity multiples tend to expand, and the market starts paying up for rate-sensitive cash flows again.

Several reports also pointed to the familiar flow pattern: foreign investors remained net sellers, while domestic institutions absorbed supply. In days like this, DIIs often end up acting as the swing factor, helping the market translate a global cue into a sustained intraday trend.

Sectors: banks and cyclicals take charge

With rates unchanged and oil down, leadership naturally rotated toward financials and domestic cyclicals. Lower crude reduces inflation anxiety and supports a benign rate outlook, which is constructive for banks and NBFCs.

The rally also helped areas that are usually vulnerable during an oil spike, including consumption-linked businesses and companies with fuel or freight-heavy cost structures. The broader tone was “risk-on”, rather than a narrow defensive move.

Shriram Finance spikes on MUFG allotment

Among the notable stock stories, Shriram Finance surged after its board allotted 47.11 crore shares to MUFG at ₹840.93 per share, raising about ₹39,618 crore. Shareholders had approved the transaction earlier, and Tuesday’s move was the market’s response to the capital infusion finally landing.

For investors, this is material because it can strengthen Shriram’s balance sheet for growth and funding competitiveness, at a time when liability management and access to long-duration capital are crucial for NBFCs.

Adani group rallies after US court development

Adani group stocks climbed sharply after a US federal court accepted lawyers’ request for a pre-motion conference aimed at seeking dismissal of an SEC securities-fraud case. While this is not a final outcome, it was treated as a positive procedural development by traders, especially given how sensitive these counters have been to headline risk.

Jaiprakash Associates flags defaults amid CIRP

Jaiprakash Associates disclosed loan defaults for the quarter ended March 31, 2026, and reported total financial indebtedness of about ₹55,357 crore. The company remains in the corporate insolvency resolution process, and the NCLT has approved Adani Enterprises’ resolution plan (via an oral order dated March 17, 2026, as referenced by the company).

This stays a high-risk situation for equity holders, but it remains an important credit event for investors tracking stressed assets and resolution timelines.

A separate market story brewing: NSE’s IPO prep

Away from daily price action, NSE has kicked off work on its IPO, meeting bankers and beginning the draft process, with a target to file papers with Sebi by June or early July 2026. This is not an immediate market-moving catalyst for indices, but it is a significant capital markets development. Investors will watch for details on share eligibility, offer structure and timelines, especially given the scarcity of large, high-quality exchange listings.

What it means for investors now

Tuesday’s move was a reminder that India’s equity market can reprice macro risk rapidly. For portfolios, the key takeaway is that the biggest index days often come from macro shocks reversing - in this case, oil and geopolitics.

If crude stays controlled and the rupee stabilises, the market’s attention could shift back to domestic growth, credit demand and earnings delivery. The RBI’s pause helps, but investors should keep one eye on how quickly the oil narrative can change again.

Near-term triggers to track

Over the next few sessions, investors will likely focus on:

• Follow-through on the US-Iran ceasefire and any updates on Hormuz shipping and insurance costs
• The path of Brent crude below or around the $100 handle and what it implies for inflation expectations
• Rupee direction and any RBI commentary on market conditions
• Institutional flows, especially whether the rally draws incremental foreign risk appetite back to India

For now, stock market today action was clear: lower oil and a steady RBI were enough to flip the mood decisively in favour of bulls.