By Shishir Prashant 
PrashantNews
In one of the biggest rallies in the recent past, the Indian stock market on Monday (May 12) rose sharply to greet the ceasefire between India and Pakistan amid positive global cues.
As the tension subsided considerably on the Indo-Pak border, the Indian stock market zoomed by 2975 points or nearly 3.74 percent to close at 82429.90 driven by reports that the Indian defence system was showing superiority. The market was also hoping for not much drastic fall in the overall economic growth despite indications of weak quarterly results by some leading companies.
The huge gains in the stock market also came after the US announced a deal with China to cut to slash their steep tariffs sending global stock markets surging in a 90 days truce in the trade war.
Infy, HCL Tech, Tata Steel, Eternal and TCS rose 5 to 8 percent on the BSE. Birla Corporation hit 20 percent upper circuit with shares touching 1270.
Escorts, Indigo, Suzlon, RVNL and Jindal Saw were in high demands as their shares continued to rise.
Aviation companies’ shares also gave thumbs up to the reports of reopening of the airports in India though a formal announcement was awaited.