Sensex & Nifty Surge as India-Pakistan Ceasefire Fuels Market Rally
Indian stock market indices Sensex and Nifty rebounded 3% following a ceasefire agreement between India and Pakistan. The market saw a resurgence driven by sustained Foreign Institutional Investor buying, despite recent escalations affecting investor confidence. Investors' wealth significantly increased by Rs 13.13 lakh crore in morning trades.
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The Indian stock market experienced a remarkable rebound as key indices Sensex and Nifty surged by 3% on Monday. This upbeat movement came shortly after India and Pakistan reached a ceasefire agreement, ceasing military actions across land, air, and sea.
The operation, which commenced with 'Operation Sindoor,' aimed at dismantling nine terror infrastructures in Pakistan and Pakistan-Occupied-Kashmir. Despite heightened regional tensions, the market's optimism was palpable when trading opened, with the Sensex climbing 2,376.18 points to settle at 81,830.65, while the Nifty jumped 729.8 points, reaching 24,737.80.
Investors' sentiment was buoyed by a significant increase in wealth, totaling Rs 13.13 lakh crore by morning. Key gainers included Adani Ports, Axis Bank, and ICICI Bank. However, Sun Pharma and IndusInd Bank witnessed minor setbacks. Meanwhile, global markets showed mixed trends, with a slight rise in Brent crude prices and varied performances from Asian indices.
(With inputs from agencies.)
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