Mumbai: The global rally that started late on Tuesday on hopes of peace in West Asia spilled over to the Indian market on Wednesday and boosted investor sentiment on Dalal Street. As a result, shares rose and the Sensex rose 1,187 points (1.7%) to close at 73,134. The day’s rise in the stock market was also boosted by some strengthening of the rupee against the dollar, while a softening trend was seen in the prices of crude oil in the global markets.The Sensex gained four points for the day despite foreign funds continuing to pull money out of Indian stocks. Net outflow from equities by foreign portfolio investors (FPIs) stood at Rs 8,331 crore at the close of trading, BSE data showed. In comparison, domestic funds were net buyers of Rs 7,172 crore.Since Tuesday (trade holiday), there were indications that America may step back from its aggressive stance in the war against Iran. This has raised hopes among investors globally that the current geopolitical uncertainty, including one of the world’s worst energy crises, will soon start to subside. As a result, crude oil prices started falling, while the rupee also started strengthening along with the RBI’s decision to curb speculative trading. Market participants said all this helped the day’s rise. The day’s gains added nearly Rs 9.6 lakh crore to investors’ wealth and the market capitalization of BSE now stands at Rs 422 lakh crore, official data showed. With the US market heading north, market players expect another session of gains in Indian stocks on Friday, provided there is no negative news overnight.