Indian Stock Market Surges as Sensex Gains 631 Points Amid Iran-US Ceasefire Reports
Rs 3 lakh crore added! Sensex jumps 500 pts, Nifty near 22,900; Iran-US ceasefire framework, 3 other factors behind the rally
The Economic TimesImage: The Economic Times
The Indian stock market rebounded sharply with the Sensex rising by 631 points to 73,949 and Nifty50 climbing 214 points to 22,927. This surge, adding over ₹3 lakh crore to market capitalization, was fueled by reports of a Pakistan-brokered ceasefire framework between Iran and the US, alongside easing oil prices and a strengthening rupee.
- 01Sensex rose by 631 points, reaching 73,949.
- 02Nifty50 increased by 214 points, nearing 22,927.
- 03Market capitalization increased by over ₹3 lakh crore.
- 04Key factors include a potential Iran-US ceasefire and falling oil prices.
- 05Foreign institutional investors continue to sell Indian equities.
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On Monday, the Indian stock market saw a significant rebound, with the Sensex gaining 631 points to reach 73,949 and the Nifty50 rising 214 points to 22,927. This rally added over ₹3 lakh crore to the total market capitalization of companies listed on the Bombay Stock Exchange (BSE), bringing it close to ₹426 lakh crore. The surge was driven by reports of a ceasefire framework between Iran and the US, brokered by Pakistan, which boosted investor confidence. Additionally, oil prices fell below $110 per barrel, further alleviating market concerns. The Indian rupee also appreciated by 0.06% against the US dollar, trading at 93.04, supported by recent measures from the Reserve Bank of India (RBI) aimed at stabilizing the currency. Despite this positive momentum, caution remains as foreign institutional investors continued to sell off shares, marking their 23rd consecutive session of net selling, totaling nearly ₹9,931 crore. Analysts predict ongoing volatility in the market as geopolitical tensions persist, particularly regarding the West Asia conflict. Investors are advised to remain vigilant and consider opportunities in the IT and banking sectors, which are expected to perform well despite current market fluctuations.
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The stock market surge could positively affect investor sentiment and potentially lead to increased investment in Indian equities, benefiting sectors like IT and banking.
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