Indian stock markets experienced a significant rally on Wednesday, with the benchmark Sensex climbing 3.5% (approximately 2,682 points) to reach 77,337.71. The NSE Nifty index followed suit, increasing by 3.39% or 783 points. This surge was triggered by US President Donald Trump's announcement of a two-week suspension of military strikes against Iran, coupled with Iran's agreement to ensure safe navigation through the Strait of Hormuz. Analysts noted that this ceasefire has transformed the market outlook, especially with Brent crude oil prices plummeting to $95 per barrel, down from over $115 earlier in the session. The Indian rupee also strengthened, trading at 92.63 against the dollar. Global markets, including the US and Asian indices, reflected a positive sentiment, indicating investor optimism for a potential durable peace deal and the resumption of oil flows from the Gulf. Volatility in the markets has decreased, suggesting improved trading conditions as concerns over energy supply disruptions ease.