New Delhi, May 12 || The understanding for a ceasefire between India and Pakistan brought cheers for investors who were richer by more than Rs 16 lakh crore in a single day -- as Sensex and Nifty gained a massive nearly 4 per cent in a bull rally seen after February 2021.
The Indian stock markets delivered their best single-day performance in four years, as positive global and domestic cues boosted market sentiment.
At the close of trade, Sensex soared 2,975.43 points, or 3.74 per cent, to end at 82,429.90, while Nifty jumped 916.70 points, or 3.82 per cent, to finish at 24,924.70.
This was the second-biggest percentage gain for both indices in the last four years, with the only larger rally recorded on February 1, 2021, when the indices rose over 4.7 per cent.
The bull rally came amid a string of encouraging developments, including an understanding for a ceasefire between India and Pakistan, a breakthrough in US-China trade talks, and reports of peace negotiations between Russia and Ukraine.
These developments helped ease geopolitical tensions, improving the global risk appetite and lifting investor confidence.
All sectoral indices ended in the green, showing a broad-based recovery across sectors.