Kathmandu. Indian stock market benchmark Sensex and Nifty on Monday recorded their biggest single-day gains in the wake of an understanding between India and Pakistan to defuse tensions. The index has gained about 4 percent in Monday’s trade.
Indian market investors were enthused by the US-China agreement on Saturday for a ceasefire between the two South Asian neighbours and the announcement of an agreement between the US and China on Sunday to significantly reduce import duties.
After opening on a high note, the 30-share BSE Sensex rose 2,975.43 points, or 3.74 per cent, to settle at a seven-month high of 82,429.90, according to the Economic Times. During the day, it rose 3,041.5 points, or 3.82 per cent, to a high of 82,495.97.
The broader NSE Nifty closed 916.70 points, or 3.82 per cent, higher at 24,924.70. In day trade, the barometer rose 936.8 points, or 3.90 per cent, to 24,944.80.
Sensex and Nifty have recorded their biggest single-day gains in absolute terms based on board buying led by IT, metal, realty and tech stocks. Earlier, the Sensex had gained 2,507.45 points on June 3, 2024, and the Nifty recorded its biggest single-day gain of 733.20 points.
India and Pakistan on Saturday agreed to halt all firing and military operations on land, air and sea after US President Donald Trump pressed the two countries to reach an understanding, saying the world does not want another war.
In early May 7, India launched ‘Operation Sindoor’ to destroy nine terror infrastructure in Pakistan and Pakistan-occupied Kashmir to avenge the Pahalgam terror attack in Kashmir.
