Dalal Street rallies as Sensex gains nearly 2,800 to 77,392
Business
Big news from Dalal Street: the Sensex shot up nearly 2,800 points to 77,392, and the Nifty climbed over 800 points to touch 23,939.
Mid- and small-cap stocks also rallied, with gains up to 4%.
Thanks to this surge, the total value of companies on the BSE jumped from ₹429 lakh crore to ₹443 lakh crore, all in a single day.
U.S.-Iran cease-fire, oil fall boost markets
A few global moves set things off: a U.S.-Iran cease-fire eased tension, oil prices dropped below $95 a barrel (helping economic mood), and the rupee got stronger against the dollar.
Plus, investors felt good knowing the RBI is likely sticking with its current policy for now.
This positive vibe wasn't just in India, major Asian markets also saw big gains as worries cooled down worldwide.