Nifty, Sensex Stage Sharp Rebound After Biggest Crash; IT Stocks in Green | Why Is Stock Market Rising Today?

Stock Market Opening: The Sensex and Nifty opened nearly 1% higher on Friday, recovering from a sharp sell-off in the previous session. The rebound was driven by strong gains in IT stocks following Accenture's results, easing crude oil prices, and the latest statement from Israeli Prime Minister Benjamin Netanyahu.

Nifty 50 opened 1.18% higher at 23,273 points, whereas BSE Sensex was 1.11% a 75,034 points. Tech Mahindra, Tata Steel, SBI, Infosys, HCL Tech, LT, Power Grid were among the top Nifty 50 gainers in Friday's opening session.

The rebound in the Indian stock market today came after Israeli Prime Minister Benjamin Netanyahu said that Israel will not carry out any further attacks on Iranian gas fields. His statement came hours after US President Donald Trump urged Israel not to attack any energy infrastructure.

Stock Market Today: Broad Market Indices in Green, India Vix Down 3.6%

Indicating overall positive market breadth, nearly all broader market indices were trading in the green on Friday. From the Nifty 100 and Nifty 500 to the Nifty Smallcap 100, all these indices were trading around 1.3% higher. Meanwhile, India VIX was down 3.68% in the early trading session. The Nifty Midcap 150 and Nifty Smallcap 50 were up 1.5% and 1.15%, respectively

Stock Market Today: Nifty IT Up 1.75%, Nifty PSU Bank Up 2.63%

Amid the thematic indices, Nifty IT index was up around 1.75% with IT stocks like Infosys, HCL Tech, Tech Mahindra, etc trading in green. The rally in IT stocks came after Accenture announced its quarterly results last night. Meanwhile, Nifty PSU Bank was also 2.63% higher during Friday's intraday trading session.

Why Is Stock Market Rising Today?

Israel Will Not Attack Iran's Gas Fields

Israel said late on Thursday that it would refrain from targeting Iranian gas fields. The statement came after Iran retaliated against Israel's strike on the South Pars gas field by launching large-scale attacks on oil and natural gas facilities across the Gulf earlier in the day.

Crude Oil Prices Cool Off After Record Rally

Crude oil prices cooled off after a massive rally on Thursday. Crude oil prices declined to $105 per barrel on Friday after Netanyahu's comments.

Stock Market Crash: Nifty-Sensex Sees Its Biggest Ever Single Day Decline in One Year

Friday's recovery in the Indians stock market could also be due to value buying by investors after the benchmark indices saw their biggest-ever single day fall in one year.

Nifty and Sensex's biggest-ever decline in a single day in one year also wiped out the gains made in past three trading sessions. Nifty 50 was down close to 3.3%, whereas Sensex lost around 2500 points on Thursday, March 20. The massive decline in the Indian benchmark indices came after sharp surge in crude oil prices on Thursday. As per the BSE data, around Rs 13.5 lakh crore of stock market investors was eroded during Thursday's trading session. BSE's market capitalisation declined around Rs 13.5 lakh crore during Thursday's trading session.