New Delhi, May 7 -- The Indian benchmark indices, the BSE Sensex and Nifty 50, surged more than 1% each on Wednesday, 6 May, amid reports suggesting that the US and Iran were nearing an agreement to end their ongoing conflict.

The Sensex rallied over 1,000 points during the session to touch an intraday high of 78,022.78, while the Nifty 50 climbed to a high of 24,356.50.

Despite paring some gains towards the close, the Sensex ended at 77,958.52, up 941 points or 1.22%, while the Nifty 50 settled at 24,330.95, gaining 298 points or 1.24%.

The rally was broad-based, with buying interest extending beyond frontline stocks. The BSE Midcap index advanced 1.67%, while the BSE Smallcap index gained 1.77%, reflecting strong participation across...