Sensex Soars Over 1,000 Points; Nifty Ends Above 23,650
(RTTNews) - Indian shares rose sharply on Monday, adding to last week's rally after U.S. President Donald Trump said there will be "flexibility" on his reciprocal tariff plan and that he would discuss tariffs with Chinese President Xi Jinping.
Geopolitical tensions also eased somewhat as U.S. and Russian officials began talks in Saudi Arabia today aimed at making progress towards a broad ceasefire in Ukraine.
According to reports, Washington is eyeing a separate Black Sea maritime ceasefire deal before securing a wider agreement towards a broad ceasefire in Ukraine.
The benchmark S&P/BSE Sensex jumped 1,078.87 points, or 1.40 percent, to 77,984.38, buoyed by foreign capital inflows and bargain hunting after heavy selling in recent weeks.
The broader NSE Nifty index closed up 307.95 points, or 1.32 percent, at 23,658.35 after rising nearly 4.5 percent in the previous week.
The BSE mid-cap and small-cap indexes climbed 1.3 percent and 1.2 percent, respectively.
The market breadth was positive on the BSE, with 2,502 shares rising while 1,636 shares fell, and 10 shares ended unchanged.
Among the top gainers, HDFC Bank, Larsen & Toubro, Reliance Industries, Bajaj Finance, HCL Technologies, Axis Bank, Bajaj FinServ, Power Grid Corp, Tech Mahindra, SBI, Kotak Mahindra Bank and NTPC surged 2-5 percent.
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