Sensex Jumps 746 Points As Focus Shifts To Trump-Putin Talks; Nifty Ends At 24,585

(RTTNews) - Indian shares rose notably on Monday, with benchmark indexes Sensex and Nifty both rising around 1 percent after six straight weeks of declines.

Underlying sentiment was underpinned as geopolitical tensions eased and Fed Vice Chair of Supervision Michelle Bowman supported a more dovish rate path on Saturday, saying she expects three interest-rate cuts this year.

Talks between Russian President Vladimir Putin and U.S. President Donald Trump are being held in Alaska on Friday to negotiate an end to the war in Ukraine.

The announcement of the meeting has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

The benchmark BSE Sensex jumped 746.29 points, or 0.93 percent, to 80,604.08 while the broader NSE Nifty index closed up 221.75 points, or 0.91 percent, at 24,585.05.

The BSE mid-cap and small-cap indexes rose 0.8 percent and 0.4 percent, respectively.

The market breadth was strong on the BSE, with 2,243 shares rising while 1,922 shares declined and 172 shares closed unchanged.

Among the prominent gainers, Tata Motors rallied 3.2 percent despite Q1 profit plunging 62 percent from last year.

SBI shares advanced 2.5 percent as brokerages raised their target prices post strong Q1 results.

Larsen & Toubro, UltraTech Cement, Trent and Eternal climbed 2-3 percent.

Defense stocks were in focus, with Cochin Shipyard, BEML and Bharat Dynamics rising 1-3 percent, after Pakistan's army chief Asim Munir made unusual remarks against India at a dinner in Florida. He threatened to destroy Indian infrastructure with missiles if India builds dams on the Indus.

He also threatened nuclear war with India, saying Islamabad would take "half the world" down if facing an existential threat.