Benchmark stock market indices rallied on Tuesday, as investor sentiment bolstered after the announcement of a 2-week ceasefire between Iran and the US. Investors added nearly Rs 14 lakh crore on Dalal Street in early trade.
The S&P BSE Sensex was up 2,541.76 points to 77,157.73, while the NSE Nifty50 jumped 746.20 points to 23,869.85 as of 9:25 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that the 2-week ceasefire between the US and Iran has dramatically altered the near-term market scenario.
“The crash in Brent crude to $95 following the ceasefire will again turn the market bullish. This ceasefire, particularly the agreed reopening of Hormuz Strait, will embolden the bulls to charge again, aided by the fair market valuations,” he added.