New Delhi, April 1 -- The Indian stock market started the new financial year, FY27, sharply higher on Wednesday, April 1, tracking a rally in global markets as hopes of a possible de-escalation in the US-Iran war lifted investor sentiment.

The rebound came after US President Donald Trump said the Middle East conflict could end within three weeks, while Iran's president signalled that Tehran had "the necessary will" to bring the crisis to an end. The remarks improved risk appetite across global markets, even as the U.S. dollar stayed under pressure and Treasury prices continued to gain.

The rally was broad-based and sharp. The Sensex surged over 2,000 points, or 2.8%, to an intraday high of 73,965, while the Nifty 50 climbed more than 60...