The BSE Sensex surged 736 points, or 0.97%, to close at 76,264 on Monday, June 15, while the Nifty index climbed above 23,850, driven by easing geopolitical tensions. The market rally followed the announcement of a peace deal between the US and Iran, which helped global risk assets recover and supported Indian equities, according to livemint.com.
The peace deal ended nearly four months of conflict, leading to a sharp correction in crude oil prices, which fell significantly during the day. This decline in oil prices benefited India, an import-dependent economy, by easing inflationary pressures and improving macroeconomic conditions. Investors responded positively to these developments, pushing the Sensex to touch an intraday high of 76,821.07, per livemint.com.
The rally was broad-based, with key sectors such as realty, automobile, and financials leading the gains. The easing of geopolitical risks and the consequent drop in crude oil prices have bolstered investor sentiment, supporting the market's upward momentum. The Sensex has surged over 2,430 points in just two sessions, reflecting strong buying interest amid improved global cues, as reported by thehindubusinessline.com.
On the same day, the Sensex sustained levels above 76,400, closing at 76,442.45 with a gain of 914.50 points, while the Nifty ended at 23,897.60, up 274.70 points, according to thehindubusinessline.com. Crude oil prices dropped to 7,580.00, further supporting the market rally.