Mumbai, April 8 (NationPress) On Wednesday, Dalal Street experienced significant relief as equity benchmarks opened with a remarkable surge, climbing over 3 percent following the announcement of a two-week ceasefire in the ongoing US-Israel-Iran conflict. The Sensex soared by as much as 3.71 percent or 2,775 points, reaching 77,392, marking an intra-day high during early trading. Meanwhile, the Nifty index stood at 23,938, reflecting an increase of 3.52 percent or 815 points from its previous close, driven by strong buying in the auto, realty, banking, IT, and metal sectors.

All sectors registered a notable recovery, trading in the green. Among them, real estate, auto, banking, and pharma stocks rose by up to 6 percent.

In terms of performance, smallcap and midcap indices emerged as the top gainers, while large caps also showed positive trends. Concurrently, the India VIX saw a decline of 19 percent.

Additionally, traders and investors are keenly awaiting the outcome of the Reserve Bank of India's MPC meeting later today.

On the previous day, FIIs were net sellers, offloading approximately Rs 8,692 crore, while DIIs showed robust buying with inflows of around Rs 7,980 crore.

Analysts suggest that volatility is likely to continue due to ongoing geopolitical tensions and persistent foreign fund outflows. They advised traders to consider a buy-on-dips strategy or focus on specific stocks while enforcing strict risk management. Key sectors to monitor include IT, banking, and oil-sensitive stocks, given that volatility and global cues will likely influence market direction in the near future.

In a statement, US President Donald Trump remarked, "subject to Iran agreeing to the complete, immediate, and safe opening of the Strait of Hormuz, I agree to suspend the bombing and attack of Iran for two weeks. This will be a double-sided ceasefire."

Globally, markets in Asia and the US displayed a positive outlook. In Asian markets, the Nikkei jumped by 5.60 percent, the Hang Seng rose by 3.08 percent, and the KOSPI climbed 6.36 percent at intraday highs as of approximately 9:10 am.

On Wall Street, the S&P 500 ended slightly up at 6,616, gaining 0.08 percent or 5 points, while the Nasdaq fell by 0.03 percent, or 5.59 points, closing at 21,990.

Conversely, oil commodities traded significantly lower, with prices dropping over 15 percent. Brent crude futures fell by 15.91 percent, or $17.39, to $91.88, hitting an intraday low, while US WTI crude dropped about 20 percent, or $21.90, to $91.05.