On hopes of US-Iran de-escalation, Sensex soars 634 points, oil cools off

Standard gold falls over 2.4% to Rs 39,772, biggest drop since Oct 2016

The benchmark indices rose to mirror the gains in global markets on hopes of a de-escalation in the US- Iran tensions.

While the rupee, too, appreciated by 48 paise to close at 71.21 against the dollar (during the day, it traded in the range of 71.52 and 71.17 to the US currency), crude oil and gold prices witnessed a sharp correction.

The benchmark indices -- Sensex and Nifty -- rose 1.5 per cent each, their biggest single-day stride since October 23, 2019. The Sensex rose 635 points, or 1.5 per cent, to end at 41,452, while the Nifty surged 191