Benchmark equity indices BSE Sensex and Nifty 50 closed nearly two per cent higher on Wednesday, tracking a strong global rally amid hopes of de-escalation in the ongoing West Asia conflict and softer crude oil prices.
The 30-share Sensex jumped 1,186.77 points or 1.65 per cent to settle at 73,134.32, after surging over 2,000 points during intra-day trade. The broader Nifty climbed 348 points or 1.56 per cent to close at 22,679.40.
Gains were led by stocks such as Trent, InterGlobe Aviation, Adani Ports and Special Economic Zone, Bharat Electronics Limited and State Bank of India. On the other hand, NTPC Limited, Sun Pharmaceutical Industries, Power Grid Corporation of India, UltraTech Cement and Bharti Airtel ended lower.
Asian markets also rallied sharply, with Kospi and Nikkei 225 posting strong gains, while European markets traded in positive territory.
Market sentiment was boosted after Donald Trump indicated that US operations in Iran could conclude within weeks, raising hopes of easing geopolitical tensions.
Analysts said the easing of crude oil prices further supported investor sentiment, with Brent crude trading around $103 per barrel.
In the US, key indices including the Nasdaq, S&P 500 and Dow Jones also ended significantly higher overnight, reflecting improved global risk appetite.
Stock markets were closed on Tuesday on account of Mahavir Jayanti.
Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 11,163.06 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 14,894.72 crore, according to exchange data.
