Sensex Today: Nifty Predicted to Surge 600 Points as Oil Prices Drop

The Indian stock market experienced a significant surge on April 8, 2026, with the Sensex jumping 2,720 points and the Nifty 50 climbing above the 23,900 level. This rally followed the announcement of a ceasefire agreement between the United States and Iran, which triggered a sharp correction in global oil prices.

The market opening was preceded by signals from the GIFT Nifty, which indicated that the Nifty 50 would likely open more than 600 points higher. This positive momentum was driven by the easing of geopolitical tensions in West Asia and the subsequent impact on crude oil costs.

Impact of the US-Iran Ceasefire

The primary catalyst for the market jump was the agreement to a ceasefire between the U.S. And Iran. This development addressed critical investor concerns regarding the escalation of conflict in the region, which had previously pressured global markets.

The ceasefire agreement is linked to the potential reopening of the Strait of Hormuz, a vital maritime route for global oil shipments. The prospect of stabilized oil transit and reduced military tension provided the necessary confidence for a broad-based recovery in Indian equities.

This follows a period of high volatility. On April 6, 2026, the Sensex had surged over 600 points to approximately 73,934, and the Nifty 50 reached 22,916, after an initial drop that saw the Sensex fall to a low of 72,728. The current gains on April 8 represent a further acceleration of this recovery trend.

Oil Price Correction and Market Dynamics

The sharp correction in oil prices acted as a secondary driver for the Indian markets. As a major importer of crude oil, India’s equity markets typically react positively to lower energy costs, which reduce inflationary pressures and improve corporate margins.

Earlier reports from March 10, 2026, indicated a similar pattern where the Sensex jumped 640 points to end at 78,205.98 and the Nifty 50 climbed 234 points to settle at 24,261.60. During that session, investors earned ₹6 lakh crore as the overall market capitalization of BSE-listed firms rose to more than ₹447 lakh crore from ₹441 lakh crore in the previous session.

At that time, the rebound was attributed to hints from U.S. President Donald Trump that the conflict in West Asia could be nearing an end, noting that Tehran’s air force and navy had been seriously damaged.

Monetary Policy Outlook

Alongside the geopolitical developments, the Indian markets are now focusing on the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting. Investors are monitoring the RBI policy for cues on interest rate trajectories and macroeconomic guidance.

The convergence of the US-Iran ceasefire and the upcoming RBI MPC decision has created a high-volatility environment where sentiment is highly reactive to both international diplomatic breakthroughs and domestic regulatory signals.

Historical Context of Recent Volatility

The current rally follows a series of dramatic swings in the Indian indices. On April 6, 2026, the Nifty saw an intraday low of 22,542 before bouncing back above 22,900, a swing of nearly 370 points.

In contrast, other global markets have faced challenges. Reports indicate that the US stock market previously saw $820 billion wiped out in a single session, with the Dow dropping 600 points and the S&P 500 and Nasdaq falling 1%.

The Indian market’s ability to reclaim levels above 23,900 for the Nifty and the substantial jump in the Sensex on April 8 highlight a strong recovery phase driven by the resolution of geopolitical risks and the correction of crude oil prices.