Stock Market: Tremendous surge in the stock market, Sensex jumped 650 points… Nifty crossed 24,250.

Mumbai, 6 May. Domestic stock markets Sensex and Nifty registered a rise in early trading on Wednesday. Investor morale has been boosted by a fall in crude oil prices after US President Donald Trump claimed progress in talks towards an agreement to end the war with Iran. Positive trends in global markets also supported the rise in domestic stock markets.

BSE Sensex rose 657.22 points to 77,675.01 in early trade while NSE Nifty rose 218 points to 24,250.85. Among the 30 companies included in the Sensex, shares of InterGlobe Aviation, Mahindra & Mahindra, Trent, Bajaj Finance, Bajaj Finserv and Tech Mahindra were among the gainers. Shares of Larsen & Toubro, Hindustan Unilever, NTPC and Power Grid declined.

In Asian markets, South Korea’s Kospi and Hong Kong’s Hang Seng are trading with gains. Whereas American markets closed with a positive trend on Tuesday. The price of international standard Brent crude fell by 1.67 percent to $ 108 per barrel. According to stock market data, foreign institutional investors (FIIs) were sellers on Tuesday and sold shares worth Rs 3,621.58 crore.

On Tuesday, Sensex closed down 0.33 percent and Nifty closed down 0.36 percent. It is noteworthy that US President Donald Trump has also suspended “Project Freedom” being run to safely remove ships from the Strait of Hormuz. Also claimed that there has been progress in talks towards an agreement to end the war with Iran. “Major progress has been made toward a full and final agreement with representatives of Iran,” Trump said on his social media platform ‘Truth Social’ on Tuesday.