Markets Rally to 7-Month High on Easing Inflation

NSE Nifty closes above 25,000 mark; hopes of a US-India trade deal aid gains

- Press Trust of India

MUMBAI: Benchmark BSE Sensex soared by 1,200 points while NSE Nifty closed above the 25,000 mark for the first time in seven months on Thursday following across-the-board buying triggered by expectations of a potential trade deal between India and the US.

Rising for the second day, the 30-share BSE Sensex jumped 1,200.18 points or 1.48% to settle at a seven-month high of 82,530.74 with 29 of constituents ending higher.

The index moved in a range in the first half but picked up momentum in the afternoon session following sharp gains in banking, auto, IT and oil & gas shares. Sensex rallied 1,387.58 points or 1.70% to hit a day's high of 82,718.14 in the second half of the session.