Sensex-Nifty
Sensex soars 2500 points, Nifty rockets as US-Iran ceasefire sparks market frenzy
Indian equity benchmarks surged over 3 per cent in early trade on Wednesday, with the Sensex jumping more than 2,500 points and the Nifty rising over 770 points, driven by a two-week ceasefire between the US and Iran and a sharp decline in oil prices.
At 9:45 am, the BSE Sensex soared 2,583 points to 77,200, while the Nifty 50 climbed 776 points to 23,899.
The rally marked one of the strongest single-session gains in recent months.
This comes after benchmark indices extended gains for a fourth consecutive session on Tuesday.
Global Sentiment Boosts Markets
Markets reacted positively to improving global sentiment after the US and Iran reached a temporary ceasefire, easing fears of further escalation in Middle East tensions and boosting investor confidence.
Oil Price Fall Adds Momentum
A sharp correction in crude oil prices further supported the rally. Brent crude fell to around $94–95 per barrel after previously surging above $115.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, told Mint: “The two-week ceasefire between the US and Iran has dramatically altered the near-term market scenario. The crash in Brent crude to $ 95 following the ceasefire will again turn the market bullish. This ceasefire, particularly the agreed reopening of Hormuz Strait, will embolden the bulls to charge again, aided by the fair market valuations."
The easing of geopolitical tensions, coupled with falling oil prices, has significantly improved the near-term outlook for equities.
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