Key Highlights

• Sensex and Nifty rally ~1% in morning trade driven by ceasefire optimism, crude oil slump.
• Rupee strengthens, global markets buoyed by reduced risk; USD falls on improved investor sentiment.

The Indian stock market saw strong gains in the morning session. The Sensex surged more than 900 points, and the Nifty 50 recovered 25,250 in early trading on Tuesday, June 24.

After opening at 82,534.61 compared to its previous close of 81,896.79, the Sensex jumped more than 900 points, or more than 1%, to reach an intraday high of 82,827. In contrast, the Nifty 50 surged more than 1% to an intraday high of 25,250.85 after opening at 25,179.90 compared to its previous close of 24,971.90.

Within the first five minutes of the session, investors gained approximately ₹4 lakh crore in wealth as the total market capitalization of BSE-listed companies surged to almost ₹452 lakh crore from ₹448 lakh crore in the previous session.

Also Read: Oil Prices Set to Stabilize Near $65 After Iran-Israel Ceasefire Announcement

The Nifty 50 was up 265 points, or 1.06 percent, at 25,237 at 9:20 AM, while the Sensex was up 916 points, or 1.12%, at 82,813 at that time.