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The key equity benchmarks witnessed strong buying interest in morning trade, supported by positive global cues following indications of possible de-escalation in Middle East tensions and a drop in crude oil prices below the $100 per barrel mark. Weakness in the US dollar and bond yields further supported risk appetite . However, caution prevailed due to ongoing uncertainty surrounding the reopening of the Strait of Hormuz. The Nifty scaled above the 23,300 level. Realty shares witnessed buying deamand for second consecutive trading session. At 10:25 IST, the barometer index, the S&P BSE Sensex surged 1,239.52 points or 1.67% to 75,307.97. The Nifty 50 index soared 387.90 points or 1.71% to 23,303.75. The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 2.48% and the BSE 250 SmallCap Index added 2.63%. The market breadth was strong. On the BSE, 3,249 shares rose and 619 shares fell. A total of 192 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term shed 0.49% to 24.62. In the commodities market, Brent crude for May 2026 settlement tumbled $5.16 or 4.94% to $99.33 a barrel. US-Iran Warfare As the Middle East conflict continues without clarity, uncertainty remains a key concern for investors. According to media reports, Trump administration has proposed a 15-point ceasefire plan to Iran, even as the US military prepares to deploy at least 1,000 additional troops to a region where around 50,000 are already stationed. Earlier, Trump said the US was engaged in talks with Iran to end the conflict, even as fighting intensified, with airstrikes hitting Iranian targets and Tehran launching missiles and drones toward Israel and other locations. Iran, however, has denied that any negotiations are underway Buzzing Index: The Nifty Realty index surged 3.66% to 698.65. The index jumped 5.31% in the two consecutive trading sessions. Phoenix Mills (up 4.62%), Oberoi Realty (up 4.04%), Anant Raj (up 4.02%), SignatureGlobal India (up 3.96%), Brigade Enterprises (up 3.78%), DLF (up 3.66%), Lodha Developers (up 3.37%), Sobha (up 3.29%), Godrej Properties (up 3.12%) and Prestige Estates Projects (up 3%) surged. Stocks in Spotlight: Larsen & Toubro rose 2.98% after the company's Water & Effluent Treatment business vertical has secured a significant order from the Guwahati Metropolitan Drinking Water & Sewerage Board for a major water management project in Guwahati. Cosmic CRF rallied 3.60% after the company announced that it has secured multiple orders worth Rs 32.54 crore from various divisions of Indian Railways. Powered by Capital Market - Live News
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