US Iran War Ceasefire effect: On April 8, a tremendous rise was seen in the Indian stock market. BSE Sensex jumped by about 2,983 points or about 4% and closed at the level of 77,599.66, while Nifty 50 also gained about 889 points to reach 24,012.95.

The biggest trigger behind this rise was the news of ceasefire between America and Iran, which created an atmosphere of relief in the global markets. As soon as the geopolitical tension subsided, there was a sharp decline in the prices of crude oil and the Indian market got its direct benefit.

How did the market run throughout the day?
The market made a strong start at 9:15 am and there were signs of bullishness as soon as it opened. There was a slight fall at 9:30, but buying soon returned. From 10 am to 12 noon the market continued to show strength and Nifty reached close to 24,000.

There was a rise once again after noon and the market closed around the highest level of the day, which shows strong confidence of investors.

₹15 lakh crore in investors’ pockets

During this rally, there was a huge jump in the market cap and investors gained a profit of about Rs 15 lakh crore. This boom was not limited only to big investors, but the portfolios of retail investors also got strengthened.

Here are the top movers

InterGlobe Aviation remained at the forefront among today’s top gainers with a jump of about 10%. Apart from this, great buying was also seen in L&T, Bajaj Finance, Maruti, UltraTech Cement and M&M.

Whereas stocks like Tech Mahindra, Sun Pharma and Power Grid remained under pressure and were included in the list of losers.

Which sectors witnessed the highest growth?

Strong buying was seen in auto, banking and metal sectors. Especially the strength in banking shares played an important role in pulling the market up.

7 big reasons due to which the market ran up

Many factors are working behind this rise – US-Iran ceasefire, fall in crude oil, rise in global markets, strong rupee, stable policy of RBI, value buying and decreasing volatility.

Now the market is keeping an eye on the policy of Reserve Bank of India and inflation-growth signals. Experts believe that if the global situation remains stable, then this boom in the market can continue further.

At the moment one thing is clear – the ceasefire has given the market the trigger for which investors were waiting for a long time.

Also read:

US Iran War: War has been averted, will inflation also stop? Know how your pocket will benefit from the strengthening of the rupee.