MUMBAI, March 25: Indian stock markets rallied for a second consecutive day on Wednesday, driven by a drop in crude oil prices and hopes of de-escalation in the West Asia conflict.
The BSE Sensex surged 1,205 points (1.63%) to close at 75,273.45, while the NSE Nifty gained 394.05 points (1.72%) to end at 23,306.45. UltraTech Cement, Bajaj Finance, Larsen & Toubro, Titan, InterGlobe Aviation, and Trent were among the top gainers, while Tech Mahindra, Power Grid, Tata Consultancy Services, and Bharat Electronics lagged.
Global crude benchmark Brent fell 5.07% to USD 99.19 per barrel, supporting market sentiment. Sectoral indices across BSE SmallCap, MidCap, banking, commodities, realty, metals, and industrials saw robust gains.
Analysts noted that optimism arose from signals of potential diplomatic engagement between the US and Iran, although conflicting reports made the sentiment fragile. Asian markets closed higher, while European markets traded positively.
Despite FII outflows of Rs 8,009.56 crore, domestic investors added Rs 5,867.15 crore to equities, sustaining the rally. (PTI)
