Mumbai
Benchmarkindices surged nearly 4 per cent on Wednesday, while the rupee strengthened sharply, as a US-Iran ceasefire eased global risk concerns and triggered a fall in crude oil prices.
The 30-share BSE Sensex jumped 2,946 points, or 3.95 per cent, to close at 77,562.90—its best single-day gain in five years. The NSE Nifty rose 873 points, or 3.78 per cent, to settle at 23,997.35, marking its sharpest rally in 11 months. The Indian rupee appreciated 47 paise to end at 92.59 against the US dollar, supported by improved risk appetite and stable monetary policy.
Investor sentiment turned decisively positive after the US announced a two-week ceasefire with Iran, easing fears of supply disruption through the Strait of Hormuz. Brent crude tumbled nearly 14 per cent, slipping below USD 95 per barrel, reducing inflation concerns for import-heavy economies like India.
The Reserve Bank of India kept policy rates unchanged, reinforcing stability.All sectoral indices ended higher, led by realty, auto and banking stocks, amid broad-based buying. Analysts said easing geopolitical tensions, falling oil prices and steady policy signals could support markets in the near term.
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Investors’ wealth swelled by Rs 16.25 lakh crore on Wednesday, mirroring a sharp rally in the stock market where the BSE Sensex jumped nearly 4 per cent, after the US and Iran announced a two-week ceasefire