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India Stocks Soar: Ceasefire Hopes, Soft Oil Boost Markets
10 Apr
Summary
- Equity benchmarks closed higher, driven by improved risk sentiment and global optimism.
- The Nifty reached 24,050.60, aided by auto and financial services, despite IT sector weakness.
- Broader market indices, including mid and small-cap stocks, outperformed the main indices.
Indian equity benchmarks concluded Friday's trading session on a high note, buoyed by an upswing in risk sentiment. Hopes for a US-Iran ceasefire, oil prices dipping below $100 a barrel, positive global market movements, and a strengthening rupee collectively boosted investor confidence.
The Nifty index settled at 24,050.60, with significant contributions from auto and financial services stocks. However, the gains were partially restrained by a downturn in IT shares. Simultaneously, the S&P BSE Sensex recorded a substantial increase of 918.60 points, closing at 77,550.25.
