Indian markets rebound as Nifty 50, Sensex rise near 1%
Business
Indian stock markets had a good day on Tuesday, with the Nifty 50 and Sensex both rising nearly 1% after weeks of losses.
This comeback was powered by strong Q2 business updates and investors picking specific stocks, even though the rupee slipped to near all-time lows at ₹96.42 against the US dollar.
Mid and smallcaps outperform, RBI eyed
Midcap and smallcap stocks did even better than the big names: Chemicals led the charge with over 2% gains, while Pharma and Oil and Gas also climbed.
On the flip side, IT, PSU Banks, and Realty didn't have great sessions.
Now, everyone's watching for the RBI's interest rate decision on October 7; a rate hike could shake things up for both markets and the rupee in the short term.