Stock Market Today, 12 May: Domestic stock markets surged over 2 per cent on Monday driven by positive sentiment after a ceasefire was announced by India and Pakistan and as US and China reached a trade deal.
The BSE’s 30-share Sensex rose 2.39 per cent, or 1896.28 points, to 81,350.75 in early morning trades. The Nifty 50 gained 2.52 per cent, or 605.2 points, to 24,613.2.
“A thawing of the relationship between India and Pakistan is likely to trigger a massive rebound for benchmark Nifty early Monday trades, but that said any fresh violations of the ceasefire deal from Pakistan could keep bullish sentiments fragile,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
