Sensex jumps 544 pts on hopes of Gulf peace talks

Sensex closed 544 points (0.7%) up at 78,639 points, a more than three-month high, on hopes of Iran-US talks to end the Gulf war.

Nifty rose 391 points (1.6%) to close at 24,774 points, with a sharp spike in the last 20 minutes of trading.

The Indian rupee was nearly flat against the dollar at 95.33, as dollar demand from importers and state-run banks increased.

Falling crude prices due to improved chances of peace talks lifted global investor sentiment.