Nifty surges over 500 points in Wednesday cas, settles 22,811
Business
Nifty made a strong comeback during Wednesday's closing auction session (CAS), leaping over 500 points from around 22,738 to nearly 23,240 before settling at 22,811, higher than where it started.
Rising yields, outflows erase ₹8L/cr
During the closing auction session, a major selloff wiped out over ₹8 lakh crore in market value as rising bond yields and foreign investors pulled money out.
Even with the late bounce, investor confidence stayed shaky. Sectors like autos and metals saw people cashing out profits due to inflation worries and high crude prices.
Analysts say it's smart to stay cautious right now and keep an eye on global trends and earnings for signs of stability.