Global Peace Hopes Send Stock Market Soaring
The stock market witnessed a spectacular rally on Friday as investors made huge gains. BSE Market Capitalization rose by nearly 10 lakh crore rupees.
On the last trading day of the week, the market saw strong buying. This sharp rise came after reports of a possible peace agreement between the United States and Iran. Following this positive news, the Sensex surged 1,695 points or 2.30 percent to close at 75,527.95. Similarly, the Nifty rose 461.30 points or 1.99 percent to settle at 23,622.90.
The Bank Nifty also witnessed a strong rally, rising 1,638 points or 2.97 percent to close above 56,800. Almost all sectoral indices ended in the green, and investors from retail to institutional levels made significant profits. In the BSE Top 30, almost all stocks closed higher except Power Grid and Tech Mahindra. Bajaj Finance led the gains with a 5.62 percent jump, followed by L&T, Indigo, Titan, and Eternal which rose up to 5 percent. Mid and Small-cap indices also saw strong momentum.
This rally pushed the BSE Market Capitalization from 452.66 lakh crore to over 462 lakh crore rupees.
According to Iranian state news agency Mehr, the proposed agreement between Tehran and Washington includes lifting of sanctions, ending the American naval blockade in the Strait of Hormuz, and withdrawal of US military forces around Iran. US President Donald Trump also stated that a deal to end the conflict with Iran is almost complete and will be signed within a week.
Following these developments, US markets witnessed a strong rally. Asian markets also opened higher, with South Korea’s Kospi rising more than 8 percent and Japan’s Nikkei 225 gaining over 3 percent.
Crude oil prices fell sharply by 5 percent to around 86.4 US dollars per barrel, which boosted stocks dependent on lower oil prices. The Indian rupee also strengthened by 65 paise against the US dollar to trade at 95.20.
This positive momentum in global markets, along with hopes of peace in the Middle East, has brought cheer to Indian investors. The coming week will be crucial as the market reacts to further developments on the US-Iran peace talks.
On the last trading day of the week, the market saw strong buying. This sharp rise came after reports of a possible peace agreement between the United States and Iran. Following this positive news, the Sensex surged 1,695 points or 2.30 percent to close at 75,527.95. Similarly, the Nifty rose 461.30 points or 1.99 percent to settle at 23,622.90.
The Bank Nifty also witnessed a strong rally, rising 1,638 points or 2.97 percent to close above 56,800. Almost all sectoral indices ended in the green, and investors from retail to institutional levels made significant profits. In the BSE Top 30, almost all stocks closed higher except Power Grid and Tech Mahindra. Bajaj Finance led the gains with a 5.62 percent jump, followed by L&T, Indigo, Titan, and Eternal which rose up to 5 percent. Mid and Small-cap indices also saw strong momentum.
This rally pushed the BSE Market Capitalization from 452.66 lakh crore to over 462 lakh crore rupees.
According to Iranian state news agency Mehr, the proposed agreement between Tehran and Washington includes lifting of sanctions, ending the American naval blockade in the Strait of Hormuz, and withdrawal of US military forces around Iran. US President Donald Trump also stated that a deal to end the conflict with Iran is almost complete and will be signed within a week.
Following these developments, US markets witnessed a strong rally. Asian markets also opened higher, with South Korea’s Kospi rising more than 8 percent and Japan’s Nikkei 225 gaining over 3 percent.
Crude oil prices fell sharply by 5 percent to around 86.4 US dollars per barrel, which boosted stocks dependent on lower oil prices. The Indian rupee also strengthened by 65 paise against the US dollar to trade at 95.20.
This positive momentum in global markets, along with hopes of peace in the Middle East, has brought cheer to Indian investors. The coming week will be crucial as the market reacts to further developments on the US-Iran peace talks.
