The benchmark equity indices witnessed a sharp rally on Wednesday, tracking firm global cues and a steep decline in crude oil prices following the announcement of a two-week ceasefire between the US and Iran.
At close, Sensex surged 2,946.32 points or 3.95 per cent to settle at 77,562.90, while Nifty rallied 873.70 points or 3.78 per cent to close at 23,997.35, the highest single-day rally in 11 months.
The RBI decision to keep the policy repo rate unchanged, heavy buying across all sectors and a strengthening rupee against the US dollar also improved investor sentiment.
All sectoral indices ended higher. Realty index jumped 6.76 per cent, auto 6.55 per cent, BSE PSU bank 5.79 per cent, Bankex 5.72 per cent, private banks index 5.62 per cent, financial services 5.48 per cent, services 5.22 per cent, consumer discretionary 5.11 per cent and industrials 4.87 per cent.
The BSE MidCap Select index jumped 4.93 per cent, and the SmallCap Select index rallied 4.01 per cent. Brent crude, the global oil benchmark, tumbled 13.89 per cent to $94.09 per barrel.
The rupee appreciated 52 paise to close at 92.54 against the US dollar on Wednesday. Focus now shifts to the earnings season commencing tomorrow, along with the upcoming CPI data release.
