Sensex gains 640 points, Nifty settles near 24,260 mark
Business
The Sensex surged 640 points to 78,206 and Nifty rose nearly 234 points to 24,262 on Tuesday, bouncing back from recent lows.
This comeback follows a sharp fall in crude oil prices, from almost $120 to $89 per barrel, between yesterday and today.
This rally is a big deal
If you're tracking your investments or just curious about the market mood, this rally is a big deal.
It comes after a rough patch last week when stocks took a hit.
A broad recovery played out across sectors
A broad recovery played out across sectors: auto stocks jumped 3%, consumer durables climbed 2.6%, and PSU banks gained too.
According to V K Vijayakumar of Geojit Investments, the sharp fall in crude oil prices has eased inflation concerns, helping restore some confidence among investors.