Sensex surges 2,100 points amid India-Pakistan ceasefire
What's the story
The Indian stock market witnessed a massive surge on Monday, following positive sentiment attributed to a ceasefire between India and Pakistan.
The Nifty 50 index opened at 24,420 and soon touched an intraday high of 24,655 within minutes, up by over 650 points.
Meanwhile, the BSE Sensex opened at 80,803 and touched an intraday high of 81,597 soon after. The jump gave the index a gain of over 2,100 points.
Market performance
Bank Nifty index also sees significant rise
The Bank Nifty index also saw a massive jump, opening at 54,658 and reaching an intraday high of 55,112.
This rally in the Indian stock market wasn't just because of the India-Pakistan ceasefire.
Experts say other factors like the US-China trade deal and the India-UK trade deal have also led to this spike.
There is also increasing anticipation for Foreign Institutional Investors (FIIs) buying activities.
Performance
All almost all sectors trade in green
Adani Ports, Axis Bank, Bajaj Finserv, Bajaj Finance, Reliance Industries, and NTPC led the early rally on the Sensex, gaining between 3% and 4%.
Sun Pharma, however, bucked the trend and was the only stock trading in the red, sliding over 6%.
Among sectors, all indices opened higher except Nifty Pharma and Nifty Healthcare.
The Nifty Pharma index dropped more than 2%. The decline followed US President Donald Trump's announcement of a 30-80% cut in prescription drug prices "almost immediately."