Sensex regains 578 points, Nifty jumps to 24,200 mark
Indian stock markets kicked off Tuesday with a strong recovery after Monday's dip.
By 9:17am the Nifty had climbed to 24,202 and the Sensex jumped over 578 points to reach 78,144, undoing much of yesterday's losses.
FPIs were net sellers on Wednesday
A drop in global oil prices helped ease costs for India and lifted investor mood.
Foreign portfolio investors were net sellers of about ₹8,752 crore (on Wednesday), while domestic institutional investors were net buyers of roughly ₹12,068 crore.
Brent crude fell by 5%
Brent crude fell by 5% to $93.86 a barrel and MCX crude slid by 6%, calming nerves across Asian markets.
As InCred's Satish Kumar said crude at around $115 per barrel was unlikely to be sustained, so attention is shifting back to company earnings—even as some sectors like cement still feel energy price pressure.