Market rallies 4% on ceasefire, US-China deal

Sensex rises 2,975 pts to settle at 82,430, Nifty surges 917 points to close at 24,925

- ARSHAD KHAN @ New Delhi

DOMESTIC equity market witnessed one of its biggest rallies on Monday, with the benchmark indices - BSE Sensex and NSE Nifty - logging their biggest intraday gains in the last four years amid improved investor sentiment.

The rally was primarily fuelled by easing geopolitical tensions between India and Pakistan as the nations announced a ceasefire to avoid further escalation. Further, the US and China coming to a trade deal provided a big boost as it eased global trade tensions. BSE Sensex skyrocketed 2,975 points or 3.74% to settle at 82,430, and the Nifty50 surged as much as 917 points or 3.81% to close the session at 24,925. This was the highest one-session percentage gain for the benchmarks since 1st Feb 2021.