Sensex Climbs 500 Pts Amid Easing Geopolitical Tensions ; India’s forex Reserves Jumps $3.82 Billion To $700.95 Billion Week Ending April 10

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Stock market benchmark indices Sensex and Nifty rallied nearly 1 per cent on Friday, driven by optimism surrounding easing geopolitical tensions and fresh foreign fund inflows.

Renewed hopes of a diplomatic resolution between the US and Iran, along with a 10-day ceasefire between Israel and Lebanon, have materially improved global risk appetite, a market analyst said.

The 30-share BSE Sensex jumped 504.86 points, or 0.65 per cent, to settle at 78,493.54. During the day, it surged 564.77 points, or 0.72 per cent, to 78,553.45.

The 50-share NSE Nifty climbed 156.80 points, or 0.65 per cent, to end at 24,353.55.

From the 30-Sensex firms, Hindustan Unilever, Power Grid, Reliance Industries, Bharat Electronics, Tech Mahindra and Titan were among the major winners.

In contrast, Sun Pharma, Mahindra & Mahindra, Larsen & Toubro and HCL Tech were among the laggards.

Meanwhile, India’s forex reserves jumped $3.82 billion to $700.95 billion during the week ended April 10, says RBI. In the previous reporting week ended April 3, the overall reserves had jumped $9.06 billion to $697.12 billion.

The kitty had expanded to an all-time high of $728.49 billion during the week ended February 27 this year, before the onset of the Middle East conflict which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.