Indian Sensex jumps 736 points after US Iran peace deal
Business
Indian stock markets got a boost on Monday thanks to a peace deal between the US and Iran, which helped calm global tensions and brought down oil prices.
The Sensex jumped 736 points (0.97%) to close at 76,264, while the Nifty climbed 231 points (0.98%) to finish at 23,854.
Wholesale inflation hits 9.68% in May
The excitement cooled off later in the day when wholesale inflation accelerated to 9.68% in May from 8.26% in April, marking the eighth consecutive month of increase, slowing the rally even though Nifty briefly crossed 24,000.
Still, realty stocks soared nearly 4%, and almost 140 stocks hit new highs, including Federal Bank and Bandhan Bank, while the rupee strengthened by 40 paise against the dollar.