Sensex and Nifty surge nearly 2% as rupee strengthens
Business
Dalal Street had a strong comeback on Tuesday: Sensex and Nifty both surged nearly 2%, wiping out earlier losses.
The boost came from a stronger rupee and upbeat investor vibes, adding 2 trillion rupees to the market's value.
By closing time, Sensex was up 510 points at 74,616 and Nifty climbed 155 points to finish at 23,124.
IT companies lead gains, caution persists
IT companies like TCS, HCLTech, and Infosys led the charge with almost 3% gains each. Bharti Airtel and Hindustan Unilever also helped lift the mood, though IndiGo and SBI slipped.
The rupee edged up against the dollar while oil prices dipped below $110 per barrel.
Still, experts say investors are staying cautious because of global uncertainties and ongoing foreign investor selling, even with today's big rebound.