Sensex Jumps 700 Points; Nifty Nears 25,250
(RTTNews) - Indian shares rose sharply on Wednesday as the fragile Iran-Israel truce took hold and balanced comments from Federal Reserve Chair Jerome Powell prompted traders to price in two Fed cuts by the end of 2025, with a first move in September far more likely than next month.
The benchmark 30-share BSE Sensex jumped 700.40 points, or 0.85 percent, to 82,755.51, with IT, media and rate-sensitive auto stocks pacing the gainers.
The broader NSE Nifty index closed up 200.40 points, or 0.80 percent, at 25,244.75 while the BSE mid-cap and small-cap indexes added 0.6 percent and 1.6 percent, respectively.
The market breadth was strong on the BSE, with 2,815 shares rising while 1,210 shares declined and 137 shares closed unchanged.
Among the prominent gainers, Titan Company shares rallied 3.8 percent as Macquarie reaffirmed its 'Outperform' rating on the stock.
UltraTech Cement, Tech Mahindra, Bharti Airtel, TCS, Power Grid Corp, Infosys and Mahindra & Mahindra all rose around 2 percent.
Multi Commodity Exchange of India (MCX) soared 5.5 percent after Switzerland-based brokerage UBS reiterated its 'buy' rating on the stock.
Glenmark Pharmaceuticals advanced 1.8 percent after launching cancer drug Tevimbra in India.
Reliance Infrastructure climbed 5 percent as its arm Reliance Defence secured export order worth Rs 600 crore from Rheinmetall Waffe Munition GmbH.
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