India, March 25 -- India's stock market surged for a second consecutive session today, joining a broader Asian relief rally as signs of a Iran war ceasefire sent crude oil prices tumbling below the $100-per-barrel.

The 30-share S&P BSE Sensex rose as much as 2.40%, or 1,781.31 points, to 75,230.06, while the wider NSE Nifty 50 gained 2.41% to cross the 23,400 mark. The rally was broad-based, with 15 of the 16 major sectoral indices logging gains. Small-cap and mid-cap stocks outperformed the benchmarks, rising 2.7% and 2.2%, respectively.

The primary catalyst for the risk-on sentiment was a reported shift in US foreign policy. On Tuesday, President Donald Trump indicated that progress is being made toward a negotiated settlement in the ...