Indian equity benchmarks snapped a three-day losing streak to close around 0.5% higher, supported by improving global sentiment after reports that Iran had offered a plan to the United States to reopen the Strait of Hormuz.

More than 160 stocks touched their 52-week high on the BSE, including Torrent Power, Engineers India, CESC, HFCL, Aarti Industries, Adani Ports, SAIL, Tata Power, JSW Steel, Adani Power, BHEL, Adani Energy, NTPC, NMDC, Granules India, Lloyds Metals, NALCO, Hindalco, Adani Green Energy, Nestle, among others.


The development eased concerns over stalled peace negotiations and potential supply disruptions, lifting investor confidence.

The market opened higher and seen extend buying as the day progress to close near day's high amid buying across the sector and broader indices.

At close, the Sensex was up 639.42 points or 0.83 percent at 77,303.63, and the Nifty was up 194.75 points or 0.81 percent at 24,092.70.

Broader markets outperformed, with the Nifty Midcap index rising 1.5% and the Smallcap index gaining 1.9%.

On the Nifty, major gainers included Sun Pharma, Tech Mahindra, Reliance Industries, Wipro, and Jio Financial Services. On the other hand, laggards included Shriram Finance, Axis Bank, Bharat Electronics, ICICI Bank, and Tata Consumer Products.

Sectorally, the rally was widespread, with healthcare, IT, realty, media, consumer durables, pharma, and power indices advancing nearly 2% each.


In stock-specific developments, Sigma Advanced Systems surged 5% after securing a £300 million long-term agreement, while Transformers and Rectifiers gained 6% on the back of a ?150 crore export order. In contrast, Mangalore Refinery and Petrochemicals declined 7% after reporting a 68% drop in Q4 profit.

Supreme Petrochem slipped 5% despite a 57% jump in standalone Q4 profit, whereas Tanla Platforms rallied 20% driven by strong quarterly earnings.

Among other movers, Supreme Power Equipment advanced 5% after winning ?128 crore in domestic orders, and Pace Digitek gained nearly 5% on entering a strategic OEM partnership with NEC XON, while One 97 Communications (Paytm) shares shed 1.3% after RBI cancels banking licence of Paytm associate entity.

Meanwhile, Cohance Lifesciences soared 20% after appointing Umang Vohra as Executive Chairman and Group CEO. Sun Pharma climbed 7% on announcing the acquisition of US-listed Organon in a $12 billion deal and One MobiKwik Systems rose 11% post RBI approval for NBFC application.