US stock markets today LIVE: US stock futures up to 3.5% as oil crashes on US-Iran ceasefire; tech stocks higher

The dollar fell against all its major peers after the US and Iran agreed to a two-week ceasefire, sapping demand for the currency as a haven.

Bloomberg’s gauge of the greenback slid as much as 0.9% to a four-week low as the agreement drove down Treasury yields, further trimming demand for the currency. The dollar weakened the most against its risk-sensitive counterparts such as the South African rand and South Korean won.

Iran said the ceasefire agreement meant it would guarantee safe passage for vessels through the Strait of Hormuz for two weeks, helping ensure a greater supply of oil to global markets. (Bloomberg)

Today's gains added more than ₹12 trillion to the total market capitalisation of all companies listed on BSE. As per exchange data, the all-India market capitalisation stood at ₹441.18 trillion, up from the previous day's total m-cap of ₹428.77 trillion.

India VIX slipped 19% to 20 mark, indicating some relief in the near-term volatility.

Vedanta share price rallied 3% on Wednesday, extending gains from for the sixth straight session, ahead of the National Company Law Appellate Tribunal (NCLAT) hearing on the Jaiprakash Associates Limited (JAL) insolvency case later this week. Vedanta shares gained as much as 3.99% to ₹735 apiece on the BSE.

The Delhi bench of the NCLAT will hear Vedanta’s appeal challenging the approval of the resolution plan for JAL on April 10.

The Supreme Court on Monday had declined to stay the implementation of the Adani group’s ₹14,535-crore bid to acquire the debt-ridden JAL, but provided a safeguard by restraining the firm’s monitoring committee from taking any “major policy decisions” without prior nod of the NCLAT.

The world's largest cryptocurrency, Bitcoin has slipped to $67,798.20, down 2.26% over the past 24 hours, amid broader volatility in the markets following a series of attacks by the United States on Iran's infrastructure. The overall crypto market cap is at $2.33 trillion; and trading volume at $84.39 billion, as per CoinMarketCap data.

Bitcoin market capitalisation is also down 2.2% to $1.35 trillion, with trading volume up 5.49% to $33.91 billion over the past 24 hours, according to data on CoinMarketCap. Notably, it erased gains from the previous day where the token topped $70,000 level for the first time since March.

Oil prices plunged sharply while global equities rallied after the United States and Iran agreed to a two-week ceasefire, offering markets a breather from the volatility triggered by the Middle East conflict.

West Texas Intermediate (WTI) crude tumbled as much as 19%, marking its steepest fall in nearly six years, after U.S. President Donald Trump agreed to pause bombing of Iran. The move is expected to help restore oil shipments through the Strait of Hormuz, with Iran saying that safe passage through the key waterway would be possible during the ceasefire period. Meanwhile, global benchmark Brent crude fell 14% to $93.90 per barrel.

The easing in geopolitical tensions triggered a broad-based rally in equities. MSCI’s Asia Pacific equity index jumped 5.1% to its highest level in five weeks, as investors bet that lower crude prices could help cool inflation and support global growth.

Markets across regions joined the rebound. S&P 500 futures rose 2.7% as of 6:52 a.m. London time, while Nasdaq 100 futures gained 3.3%. In Asia, Japan’s Topix advanced 3.4%, Australia’s S&P/ASX 200 climbed 2.6%, Hong Kong’s Hang Seng rose 3.1%, and China’s Shanghai Composite added 2.5%. In Europe, Euro Stoxx 50 futures surged 5.4%, reflecting a strong global risk-on mood.

Bond markets also reacted positively. U.S. Treasuries rallied as softer oil prices revived hopes that easing inflation pressures could give the Federal Reserve room to cut interest rates. The U.S. dollar index fell 1%, reversing some of its safe-haven gains made during the conflict.

Precious metals also moved higher. Gold climbed 2.7% to around $4,835 per ounce, supported by expectations of a lower interest-rate environment, which tends to favour non-yielding assets. Silver outperformed, surging 5.9% to above $77 per ounce.

Adani group stocks witnessed a sharp rally of up to 13% in Wednesday's trading session after a US court accepted the plea filed by the counsels of Guatam and Sagar Adani for a pre-motion conference to dismiss a securities fraud case brought against them over 15 months ago by the Securities and Exchange Commission (SEC).

All Adani group stocks traded higher following this development and amid a sharp rebound in the Indian stock market on the US-Iran ceasefire news.

Adani Green and Adani Total Gas led, with a 13% rise each. Meanwhile, the flagship Adani Enterprises shares gained 11%. Both Ambuja Cement and Adani Energy hit the 10% upper circuits, while Adani Ports, Adani Power, and ACC gained between 6-8%. Media stock NDTV gained 12% today.

Viram Shah, Co-Founder and CEO, Vested Finance noted that for investors, today's market rally reinforces how quickly geopolitics can override fundamentals, with oil moving from sub $80 levels to well above $120 and then correcting sharply within weeks as the Strait of Hormuz disruption unfolded and partially reversed.

“The current market move is less about a structural improvement and more about unwinding extreme risk positioning, and the key from here will be whether the ceasefire evolves into a more durable agreement. Until then, markets are likely to remain event-driven, with the potential for equally sharp repricing across oil, inflation expectations, and risk assets if tensions escalate again,” he added.

Garima Kapoor Deputy Head of Research and Economist at Elara Capital said, “Acknowledging the risks to growth and inflation owing to disruption in energy and other supply chains, MPC decided to hold policy rates while awaiting further clarity on the impact of West Asian crisis. We do not see MPC hiking policy rates until CPI inflation durably surpasses 6% and inflation expectations get unhinged. We believe the 6.9% growth estimate put out by RBI for FY27 may need a reassessment as full pre-war energy export volumes might take 3–6 months due to backlog, diverted tankers, and partial infrastructure damage.”

In the realty sector, Aditya Birla Realty surged 9% while Lodha jumped 8%. Prestige, Phoenix, Sobha, Godrej Properties, DLF, Oberoi Realty, Anant Raj and Brigade Enterprises also added 5-8% today.

"For the real estate sector, this continuity in interest rates plays a crucial role in sustaining momentum. Stable borrowing costs help preserve affordability for homebuyers while also enabling developers to plan with greater confidence. In an environment where sentiment can be easily influenced by macroeconomic signals, the absence of rate volatility acts as a reassuring factor for the market. With financing costs remaining steady, prospective buyers are better positioned to evaluate and commit to long-term investments such as homeownership.

Overall, the RBI’s decision supports a balanced environment for the real estate sector, helping maintain demand traction and providing the confidence needed for continued market activity in the near term," said Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India.

While the auto sector rose 7%, its constituents also rallied. Ashok Leyland soared almost 13%, followed by Motherson Sumi and Tata Motors PV, up 9% each. Meanwhile, Uno Minda, M&M, Bosch, Maruti, TVS Motor, Eicher Motors, Bharat Forge, TI India, Exide Industries, and Hero Moto rose between 5-7.5% each.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said: "Nifty will cruise towards 24000 and further movements will depend on the evolving outlook. In brief, it is risk on again.

Beaten down financials have the potential to stage a dramatic recovery. Crude-related stocks like refineries, aviation, capital goods companies with exposure to the Gulf region, paints and adhesives will be on strong wicket."

Nifty Financial Services index added 5.6% today. Shriram Finance was the top gainer in the index, up 11% followed by Chola Finance, rising 9%. Meanwhile, Max Finance, Bajaj Finance, Bajaj Finserv, Muthoot Finance advanced over 7% each. SBI Cards, Jio Financial, SBI Life, and REC were also up between 3.5-5% each.

Shares of Larsen and Toubro (L&T) advanced over 8% on BSE to ₹4,024.9 per share following the positive developments around the Middle East war. US President Donald Trump has said he has suspended Iran attacks for two weeks, pausing a five-week conflict that closed a crucial waterway for global energy supply and sent equity prices reeling.

Last month, L&T had said that it derives more than 35% of its revenue from the Middle East region. Following the US and Israel’s strikes on Iran and subsequent retaliatory actions, it had flagged logistics and supply chain disruptions as key challenges, warning of potential revenue risks if the situation persists.

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday, April 8, said that headline inflation remained below its target, with CPI inflation coming in at 2.7% in January and 3.2% in February. However, the central bank also cautioned that upside risks to inflation have increased, largely due to the ongoing West Asian crisis.

For FY27, the RBI projected CPI inflation at 4.6%. On a quarterly basis, it expects inflation at 4% in Q1, 4.4% in Q2, 5.2% in Q3, and 4.7% in Q4.

All Nifty Bank constituents are in the green, led by Union Bank, AU Small Finance Bank, IndusInd Bank, and more.

Following the latest monetary policy, the Reserve Bank of India kept the repo rate unchanged at 5.25%, while maintaining its policy stance at ‘neutral’. The Monetary Policy Committee (MPC) unanimously voted to keep rates unchanged, signalling a continued wait-and-watch approach.

Among other key rates, the Cash Reserve Ratio (CRR) stands at 3%, the Standing Deposit Facility (SDF) rate is at 5.00%, while both the Marginal Standing Facility (MSF) rate and the Bank Rate remain at 5.50%.

The Reserve Bank of India (RBI) has projected India’s GDP growth at 6.9% for FY27, indicating a steady economic expansion through the year. On a quarterly basis, the central bank expects growth to come in at 6.8% in Q1FY27, followed by 6.7% in Q2FY27. Growth is then seen improving to 7% in Q3FY27 and further accelerating to 7.2% in Q4FY27, suggesting stronger momentum in the second half of the fiscal year.

Sensex, Nifty remained around 3.5% higher at around 10:10 am after the RBI Governor Sanjay Malhotra announced that the Monetary Policy Committee has decided to keep repo rate unchanged at 5.25%, as widely expected by the markets.

Real GDP growth for FY26 is projected at 7.6%, said RBI Governor.