Sensex rises nearly 666 points to 76,866 as banks rally
Indian stock markets made a solid comeback on Wednesday, shaking off yesterday's steep fall.
The Sensex shot up by nearly 666 points to 76,866, and the Nifty gained about 144 points to reach 23,968.
This bounce was mostly thanks to banking and IT stocks stepping up after worries about slow economic growth and weak monsoon news had dragged things down.
Brent below $77 lifts banks
A dip in global crude oil prices helped boost investor mood: Brent crude slipped below $77 as U.S.-Iran talks calmed supply fears, which is good news for India since we import a lot of oil.
Banking giants like ICICI Bank and HDFC Bank led the charge with strong gains.
Plus, RBI Governor Sanjay Malhotra reassured everyone that inflation risks are under control, easing nerves about possible rate hikes.
Still, investors are keeping an eye on monsoon progress and global interest rates before getting too comfortable.