Stock markets log biggest single-day rise after suspension of India-Pak hostilities

Benchmark stock indices Sensex and Nifty recorded their biggest single-day gains in absolute terms on Monday, skyrocketing nearly 4 per cent, after India and Pakistan reached an understanding to stop military actions and US and China announced a deal to lower tariffs significantly.

- AGENCIES

After opening on a high note, the 30-share BSE Sensex soared by 2,975.43 points or 3.74 per cent to settle at a more than seven-month high of 82,429.90. During the day, it rallied 3,041.5 points or 3.82 per cent to a high of 82,495.97.

The 50-issue Nifty of NSE skyrocketed 916.70 points or 3.82 per cent to close at 24,924.70. In intra-day trade, the barometer zoomed 936.8 points or 3.90 per cent to 24,944.80.

Sensex and Nifty logged their biggest single-day gains in absolute terms on across the board buying led by IT, metal, realty and tech shares, Sensex had previously posted its biggest single-day gain of 2,507.45 points and Nifty by 733.20 points on June 3, 2024.

Stock markets welcomed the understanding reached between India and Pakistan on Saturday to stop all firings and military actions on land, air and sea.

India launched ‘Operation Sindoor’ on early May 7 to destroy nine terror infrastructures in Pakistan and Pakistan-Occupied-Kashmir in retaliation to the Pahalgam terror attack.