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Mumbai. Domestic stock markets witnessed a strong rally in early trade on Wednesday with major indices rising more than three per cent after an agreement was reached on a two-week ceasefire in West Asia. BSE Sensex opened at 77,290.63 points, jumping 2,674.05 points. It was up 2,657.22 points (3.56 percent) at 77,273.80.

In the interbank currency market, the rupee is currently up by 52 paise at Rs 92.54 per dollar. Investment sentiment has strengthened after Iran and America agreed on a two-week ceasefire.

America has immediately stopped attacks on Iran. This led to a rise in stock markets across the world. Gold has jumped three percent while crude oil has fallen by more than 13 percent.

Like the Sensex, the Nifty-50 index of the National Stock Exchange also opened at 23,855.15 points with a gain of 731.50 points and at the time of writing the news was at 77,273.80 points with a gain of 782.75 points or 3.39 percent. Except the decline in IT sector, there was good buying in all other sectors.

Indices of auto and realty groups rose more than five percent. Indices of banking and finance sectors are up more than four percent, consumer durables are up more than three percent and metals, oil and gas and chemicals groups are up more than two percent.

Shares of airline company Indigo rose close to 10 percent in the Sensex. L&T, Adani Ports and Bajaj Finance rose by seven percent. Shares of Bajaj Finserv and Mahindra & Mahindra were up six per cent, while Maruti Suzuki, UltraTech Cement, Eternal, Titan and Axis Bank were up more than five per cent. Shares of Tech Mahindra and Infosys are currently in decline.

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