Sensex jumps 500 points: Why is stock market rising today?

Dalal Street continued its upward momentum for the second day on Wednesday over positive global cues. While Sensex jumped 500 points, Nifty went past the 25,200 mark, over ceasefire between Iran and Israel.

The S&P BSE Sensex jumped 529.55 points to 82,584.66, while the NSE Nifty50 added 151.55 points to 25,195.90 as of 10:08 am.

"After the confirmation of ceasefire between Israel and Iran and also the de-escalation of geopolitical tension in the West Asia, helping the markets to recover and also crude oil prices have been coming down significantly which is favorable to India. That is the reason markets are swinging at a higher note," said Director - Equity strategy , WealthMills securities Pvt ltd.