News

Published: August 6, 2024
Updated: August 6, 2024

Indian Stock Market Roars Back to Life: Sensex Surges 1,100 Points, Nifty Reclaims 24,350

Market Rebound

After a two-day slump, the Indian stock market made a remarkable recovery on Tuesday, with the BSE Sensex climbing 1,092.68 points to hit a high of 79,852.08. The Nifty also regained its footing, reaching a high of 24,382.60.

Global Market Influence

The upswing was in line with gains seen in other Asian markets, including Japan's Nikkei 225, South Korea's Kospi, and mainland China's Shanghai Composite. The positive sentiment was also reflected in the BSE market capitalization, which added over Rs 7 lakh crore to reach Rs 4,49,11,923 crore.

Top Gainers

Tata Motors, Larsen & Toubro, JSW Steel, and Infosys led the charge, with shares rising by over 2% each. The fear gauge, India VIX, also plummeted 14.85% to 17.34.

Market Drivers

The growing number of non-institutional investors and their investment approach have been the primary drivers of the Indian market. Despite recent negative developments, these investors have remained optimistic, contributing to the market's resilience.

The Indian stock market's remarkable recovery is a testament to its strength and resilience. With global markets also showing signs of improvement, investors can expect a positive outlook in the short term. However, it's essential to remain cautious and informed, as market volatility can be unpredictable.