Sensex, Nifty Rally On Trade Deal Hopes; RIL Shares Surge Over 5%
(RTTNews) - Indian shares rose sharply on Monday despite heightened tensions between India and Pakistan, following the recent Pahalgam attack.
Sentiment was underpinned as India's Minister of State for Commerce, Jitin Prasada, confirmed continuous dialogue with the U.S. on a bilateral trade deal.
U.S. Treasury Secretary Scott Bessent has said that India is likely to become the first nation to finalize a bilateral trade agreement with the U.S. — a development that would help New Delhi sidestep the 26 percent reciprocal tariffs that have been paused till July.
The benchmark S&P/BSE Sensex closed up 1,005.84 points, or 1.27 percent, at 80,218.37, after having hit a high of 80,321 earlier.
The broader NSE Nifty index hit an intraday high of 24,355 before closing up 289.15 points, or 1.20 percent, at 24,328.50.
The BSE mid-cap and small-cap indexes gained 1.3 percent and 0.4 percent, respectively.
The market breadth was slightly weak on the BSE, with 2,014 shares declining while 1,981 shares advanced and 184 shares closed unchanged.
Reliance Industries topped the gainers list to surge more than 5 percent after Q4 profit and revenue beat estimates.
Larsen & Toubro, Tata Motors, Axis Bank, Mahindra & Mahindra, SBI, Tata Steel and Sun Pharma rallied 2-3 percent.
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