Sensex jumps 657 points, Nifty at 24,250 on West Asia de-escalation hopes
Synopsis
Indian benchmarks jumped nearly 1% in early trade on 6 May, powered by hopes that US-Iran peace signals could ease West Asia supply disruptions. With Brent crude tumbling over 2% and global markets flashing green, the rally has macro tailwinds — but analysts warn the gains remain fragile without a sustained close above 24,250 on the Nifty.
Key Takeaways
BSE Sensex rose 657 points to an intraday high of 77,675 on 6 May .
Nifty50 climbed 217 points to 24,250 , with all sectoral indices in positive territory.
Brent crude fell over 2% to $107.56/barrel ; WTI dropped 3% to $99.12/barrel .
US President Donald Trump signalled a possible peace deal with Iran , pausing a Strait of Hormuz escort operation.
Global cues positive: KOSPI up nearly 7% , Hang Seng up over 1% , S&P 500 closed 0.81% higher overnight.
Analysts caution a sustained close above 24,250 is needed to extend the rally toward 24,350–24,450 .
Indian equity markets surged in early trade on Wednesday, 6 May, with the BSE Sensex rising 657 points or 0.85% to hit an intraday high of 77,675 and the Nifty50 climbing 217 points or 0.90% to 24,250. The rally was driven by global cues and growing hopes of a de-escalation in the West Asia conflict, which pushed oil prices lower for a second straight session.
Sectoral Gains Across the Board
All sectoral indices opened in positive territory, with Nifty PSU Bank, Nifty Private Bank, Nifty Auto, Nifty Metal, and Nifty IT advancing up to nearly 2% each. However, select heavyweights bucked the trend — Larsen & Toubro, Hindustan Unilever, ONGC, Power Grid, and ITC emerged as the top laggards within the Nifty pack, capping broader index gains.
What Analysts Are Saying
Market experts adopted a cautiously optimistic tone.
Point of View
And even this 2% dip keeps crude elevated by historical standards. The KOSPI's near-7% surge suggests some of this is short-covering rather than conviction buying. If Trump's Iran overture stalls — as past such signals have — the unwind could be as sharp as the rally. Domestic investors should watch the 24,250 close, not just the intraday print.
NationPress
10 Aug 2026
Frequently Asked Questions
Why did Sensex and Nifty rise on 6 May 2025?
Sensex and Nifty rose on 6 May 2025 primarily on hopes of de-escalation in the West Asia conflict, after US President Donald Trump signalled a possible peace deal with Iran. This pushed oil prices lower and lifted global risk appetite, driving Indian benchmarks up nearly 1%.
What is the key technical level analysts are watching on Nifty?
Analysts say Nifty needs to sustain a daily close above 24,250 to extend the rally toward 24,350–24,450. A failure to hold 23,900 could see the index test the 23,800–23,700 zone.
How much did crude oil prices fall on 6 May?
Brent crude fell more than 2% to $107.56 per barrel, while US benchmark WTI dropped 3% to $99.12 per barrel, on hopes that West Asia supply disruptions could ease.
Which sectors led the Sensex and Nifty rally?
Nifty PSU Bank, Nifty Private Bank, Nifty Auto, Nifty Metal, and Nifty IT all advanced up to nearly 2%, with every sectoral index trading in positive territory. Larsen & Toubro, Hindustan Unilever, ONGC, Power Grid, and ITC were among the few laggards.
What is the status of US-Iran tensions as of 6 May?
US President Trump indicated progress toward a comprehensive agreement with Iran and briefly paused a Strait of Hormuz escort operation. However, Tehran has not responded to his comments, and the US Navy continues its blockade of Iranian ports.
