Sensex surges 500 pts, Nifty tests 25,200 amid positive global cues; IT, oil & gas stocks lead rally

The Indian stock market witnessed a robust upswing today as the Sensex surged by 500 points and the Nifty tested the 25,200 mark. This rally was primarily driven by positive global cues, with U.S. markets closing on a high note and a significant drop in oil prices. Investors responded optimistically to these developments, propelling the markets upward. Key sectors leading this rally included IT and oil & gas, which saw substantial gains. The decline in oil prices by 6 percent to a two-week low played a crucial role in boosting the oil & gas sector, while the IT sector benefited from strong performances in global tech stocks. This collective momentum underscored the market's resilience and investor confidence amid easing geopolitical tensions. Market analysts suggest that the positive sentiment may continue if global conditions remain stable. The recent developments have not only provided a much-needed boost to the Indian markets but also set a promising tone for the upcoming trading sessions. Investors are now keenly watching for further cues from international markets and economic indicators that could influence future movements.

— Authored by Next24 Live