In the morning trading session on Tuesday, Indian equities registered an impressive surge, with the BSE Sensex rising by 771 points, or 0.9%, to reach 82,660. This uptick marked a recovery from the losses seen in the previous session, and the Sensex achieved its highest level since early October. The bullish trend was mirrored across Asian markets, fueled by US President Trump's announcement of a ceasefire between Iran and Israel.
Positive momentum was seen across nearly all sectors, spearheaded by significant gains in the auto sector. Additionally, both small-cap and mid-cap stocks saw rises of 0.8% and 0.7%, respectively. The decline in oil prices contributed to an optimistic market sentiment by alleviating concerns over inflationary pressures. Further boosting investor confidence were indications from Federal Reserve Vice Chair Michelle Bowman about potential monetary easing in July.
Adani Ports experienced a notable increase of 4.3% after Mumbai International Airport, an Adani Airport Holdings subsidiary, received a substantial $750 million investment from a consortium led by affiliates of Apollo-managed funds and other long-term investors. Among other early gainers were Larsen & Toubro, which rose by 2.3%, UltraTech Cement with a 2.2% increase, and Mahindra & Mahindra climbing by 2.1%.
