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Indian equities are off to a bumper start to the new fiscal year, FY27, as both key indices rallied over 1.5%, snapping a two-day sell-off and recovering from the steepest monthly drop in six years in March.

Market sentiment improved on the back of a drop in crude oil prices and rising hopes that the US-Iran war could end soon, which gave a much-needed boost to Dalal Street investors. The strong rebound in financials and auto stocks helped lift the markets, with the Nifty 50 eventually settling 1.56% higher at 22,676, while the Sensex closed at 73,134, up 1.65% from Monday's close.

The broader markets also mirrored the sharp rebound, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices closing higher by 2.3% and 3.3%, respectively.

Among sectoral indices, the Nifty PSU Bank index emerged as the top performer, surging 3.70%, while the Nifty Media, Nifty Chemicals, Nifty Metal, Nifty Realty, Nifty Auto, and Nifty IT indices all rallied over 2%. The Nifty Pharma index was the only sectoral loser, slipping 1%.

US President Donald Trump said Washington could end its military attacks on Iran within two to three weeks, adding that Tehran would not need to strike a deal as a prerequisite for the conflict to wind down, Reuters reported.

Defence and auto stocks led the recovery rally, with Garden Reach Shipbuilders, Ola Electric, and Mazagon Dock Shipbuilders emerging as top gainers among Nifty 500 constituents, surging 19.6%, 13.6%, and 12.3%, respectively.

Other defence stocks such as Cochin Shipyard, Bharat Dynamics, and BEML also surged up to 12.2%.

The rally was supported by sustained optimism around India’s defence manufacturing push and a recent wave of large procurement approvals, keeping the sector firmly in focus for investors seeking both momentum and long-term structural growth.

A strong business update from DMart drove the stock 8% higher, while Ircon International rebounded 9%. Another railway stock, RailTel Corporation, advanced 7.2% to ₹263.8 apiece.

Meanwhile, capital market stocks such as Motilal Oswal Financial Services (MOSL), Angel One, and BSE ended with gains of up to 7.4% after the Reserve Bank of India (RBI) deferred its circular on capital market exposures of banks for a period of three months.

Groww, CAMS, Nippon Life India AMC, HDFC AMC, and Anand Rathi Wealth also closed higher in the range of 3–6%.

Similarly, all state-owned banks staged a strong recovery, with Punjab & Sind Bank rallying 6.6% and Bank of Maharashtra surging 5.8%. This was followed by UCO Bank, Central Bank of India, Indian Bank, Union Bank of India, and State Bank of India, all rising over 4%.Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments.

He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom.

During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles.

He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements.

His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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