Sensex jumps 600 then closes 123 points lower at 77,989
Business
The Indian stock market was all over the place on Thursday.
Sensex jumped 600 points early on, thanks to hopes of peace in West Asia, but those gains didn't last: profit-taking dragged it down by the end of the day, closing 123 points lower at 77,989.
Israel Lebanon ceasefire lifts crude prices
Market experts said trading stayed in a tight range with selective selling pressure.
The buzz started with news of a temporary ceasefire between Israel and Lebanon later on Thursday, which lifted moods and even pushed up crude oil prices by 4% to $98.5 per barrel.
But as optimism faded, investors cashed out their profits, showing how quickly global events can shake up markets.