Relief Rally: Sensex & Nifty Soar on India-Pakistan Ceasefire
Indian Markets Soar Following Pakistan Ceasefire
Indian stock markets experienced a dramatic surge on Monday, fueled by a wave of relief following the announcement of a ceasefire between India and Pakistan.
The announcement, which came after a weekend of heightened tensions marked by missile and drone strikes, immediately sent positive ripples through the market. The broader market sentiment shifted from anxiety to optimism, leading to a strong buying spree.
Sensex & Nifty Climb Significantly
The BSE Sensex, a benchmark index of the Indian stock market, gained a substantial 1.7% to close at 80,803.80. The Nifty 50, another key index tracking the performance of India’s 50 largest companies, jumped 1.72% to reach 24,420.10 by 9:15 am.
This surge in market value reflects investor confidence returning after the tense standoff with Pakistan. The ceasefire agreement has significantly eased concerns about further escalation of hostilities.
Broader Market Gains
The positive momentum wasn’t confined to the Sensex and Nifty. Forty-eight of the Nifty 50 stocks saw their prices rise at the market open, demonstrating widespread optimism across various sectors.
Twelve out of the thirteen major sectors in the Indian stock market logged gains, highlighting a broad-based recovery. Even smaller and mid-cap companies saw their shares appreciate by nearly 3% each, indicating that the market’s rebound was inclusive.
