New Delhi: Investors’ wealth surged by Rs 18.15 lakh crore thanks to a two-day rally in the stock market after concerns over the West Asia crisis eased and crude oil prices retreated from their elevated levels.
Global market sentiment got a boost after the US and Iran finalised a deal to end their 107-day war.
In two days, the BSE Sensex jumped 2,431.78 points, or 3.29 per cent. The NSE Nifty climbed 692.3 points, or 2.98 per cent.
On Monday, the 30-share BSE Sensex rallied 736.38 points, or 0.97 per cent, to settle at 76,264.33. The 50-share NSE Nifty surged 231 points, or 0.98 per cent, to end at 23,853.90.
The market capitalisation of BSE-listed companies went up by Rs 18,15,339 crore to Rs 4,70,49,119.48 crore in two days.
On Monday, broader markets also advanced as the BSE MidCap Select index jumped 1.66 per cent and the SmallCap Select index climbed 1 per cent.
Among 30 Sensex firms, Trent was the biggest gainer, rising by 5.35 per cent, InterGlobe Aviation jumped 3.59 per cent, Bajaj Finserv by 3.58 per cent, UltraTech Cement by 3.29 per cent, Eternal by 3.26 per cent and Maruti by 3.25 per cent.
NTPC fell the most by 1.64 per cent, followed by ICICI Bank, Hindustan Unilever and Adani Ports.
Sectorally, Realty surged the most by 3.93 per cent, followed by Auto (2.69 per cent), Consumer Discretionary (2.44 per cent), Consumer Durables (2.02 per cent), Industrials (1.73 per cent) and Services (1.66 per cent).
Hospitals, healthcare, and metal were the laggards. A total of 3,086 stocks advanced, while 1,323 declined and 206 remained unchanged on the BSE.
Brent crude, the global oil benchmark, dropped 5 per cent to USD 82.97 per barrel.
The US and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday, after an in-person signing of the agreement in Switzerland.
US President Donald Trump announced on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.
“The easing of geopolitical tensions following the USA-Iran peace agreement is a significant positive for global risk assets.
“The immediate correction in crude oil prices is particularly encouraging for an import-dependent economy like India, as it helps alleviate inflationary pressures, improves macroeconomic stability, and provides greater policy flexibility,” Rajesh Palviya, Head of Research, Axis Direct, said.
