Stock markets upbeat, BSE adds ₹5.1 lakh cr as rupee appreciates and crude dips
Indian stock markets saw a broad-based rally, with the BSE Sensex gaining over 1% as crude oil prices dropped and the rupee appreciated. The market added ₹5.1 lakh crore in capitalization amid positive investor sentiment.
Why it matters
The market rebound reflects improved macroeconomic conditions, specifically the impact of lower oil prices on India's fiscal outlook.
A sharp fall in crude oil prices amid easing tensions in West Asia and appreciation of rupee, propped up India’s equity markets with Bombay Stock Exchange (BSE) gaining more than 1%, adding ₹5.10 lakh crore in capitallisation.
The 30-share BSE Sensex closed 1.02% higher at 76,835.78 points and the 50-share National Stock Exchange (NSE) Nifty surged 228.50 points, or 0.96% to 23,995.95 points.
More than 2,250 stocks increased of the 3,446 that traded on Monday and all the sectoral indices improved, suggesting a broad-based rally.
The market capitalisation of BSE-listed companies surged ₹5.1 lakh crore to ₹480.8 lakh crore, following the rebound in equities.
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