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Sensex Jumps 769 Points As US Bond Yields Ease; Nifty Tops 24,850
(RTTNews) - Indian shares rallied on Friday as U.S. Treasury yields eased from recent highs and oil prices remained depressed on concerns about oversupply stemming from a potential nuclear deal between the U.S. and Iran, and OPEC+ supply hike prospects.
Treasury yields eased from recent highs on improved readings concerning U.S. business activity, output expectations, weekly jobless claims and existing home sales.
Traders also welcomed comments from a Federal Reserve official that the U.S. central bank could cut interest rates in the second half of 2025 if the Trump administration's tariffs on U.S. trading partners settle around 10 percent.
The benchmark S&P BSE Sensex jumped 769.09 points, or 0.95 percent, to 81,721.08, with consumer goods major ITC, financials and IT stocks leading the surge.
The broader NSE Nifty index closed up 243.45 points, or 0.99 percent, at 24,853.15 after U.S. President Donald Trump's "big, beautiful" tax bill passed the U.S. House of Representatives in a major win for Republicans.
The BSE mid-cap and small-cap indexes rose around half a percent each.
The market breadth was strong on the BSE, with 2,342 shares rising while 1,607 shares fell and 158 shares ended unchanged.
Among the top gainers, Axis Bank, Nestle India, Bajaj FinServ, ITC, Power Grid Corp and Eternal rallied 2-4 percent.
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