Sensex jumps 1,264 pts; investors’ wealth surges by `9.41 lakh crore

mumbai

Benchmark stock indices Sensex and Nifty surged over 1% on Wednesday as hopes of renewed diplomatic engagement between the US and Iran and crude oil trading below the $100-a-barrel level bolstered investor sentiment.

The 30-share BSE Sensex jumped 1263.67 points or 1.64% to settle at 78111.24. During the day, it zoomed 1422.85 points or 1.85% to 78270.42. The 50-share NSE Nifty climbed 388.65 points or 1.63% to end at 24231.30. Investors' wealth surged by Rs 9.41 lakh crore on Wednesday.

Among the 30 Sensex firms, InterGlobe Aviation, Eternal, Power Grid, Tech Mahindra, Tata Consultancy Services and Larsen & Toubro were the major gainers. 

"The primary trigger for today’s rally was a visible de-escalation in geopolitical concerns. Reports indicating a potential easing of tensions in the Middle East, along with renewed hopes around US-Iran dialogue, helped restore risk appetite," Hariprasad K, research analyst and founder of Livelong Wealth, said on Wednesday.