Sensex gains 1,516 points as Nifty reclaims 17,000 mark
Indian markets bounced back strong on Tuesday (Sensex shot up 1,516 points and Nifty climbed 365 points) after a rough start to the week.
This quick recovery follows global jitters over tensions in the Strait of Hormuz, which is crucial for India's oil supply.
Why are we seeing this jump?
A lot of India's oil passes through the Hormuz Strait, and rising tensions there have pushed Brent crude prices to $104 a barrel.
That could mean higher fuel costs and inflation at home, which isn't great news for everyday spending or future interest rates.
A look at the market's performance
Despite Monday's selloff and market nerves (with some leading banks posting sharp losses), all sectors opened strong today.
Gains in auto, metal, and public-sector banks were boosted by positive vibes from US and Asian markets.
Still, with volatility running high (India VIX rose sharply), it's a reminder that global events can shake things up fast, even if today feels like a win.