Nifty Hits 24,700, Sensex Soars 2,300 Points as Ceasefire Boosts Market Rallies After India-Pakistan Ceasefire

Nifty Hits 24,700, Sensex Soars 2,300 Points: On May 12, Indian stock markets saw a major rally as India and Pakistan agreed to a ceasefire. This reduced geopolitical tensions and boosted investor confidence. Sensex jumped by over 2,300 points and Nifty went past the 24,700 mark in early trade.

Also Read: Sensex Down 800 Points Amid India-Pakistan Tensions, Market Still Resilient

Sensex and Nifty Surge

By 9:29 AM, Sensex was up by 1,884 points at 81,339, and Nifty rose 575 points to touch 24,583. This was a strong sign of bullish momentum, with over 2,700 stocks in the green.

Pharma Stocks Under Pressure

While most sectors gained, Nifty Pharma fell due to global concerns. US President Donald Trump announced a sharp cut in medicine prices, affecting Indian pharma exports.

Midcap and Smallcap Stocks Shine

Midcap and smallcap indices surged by nearly 3% as investors welcomed the reduced tensions and broader market participation grew stronger.

Top Gainers and Losers

Major gainers on the Nifty included Adani Enterprises, Jio Financial, Adani Ports, Shriram Finance, and Trent. Sun Pharma and Cipla were the only notable losers.

Also Read: Indian Stock Market: Sensex Falls 500 Points After Pakistan's Military Escalation