Sensex up 650 points, ₹2.4L/ cr added to BSE-listed value
Business
Big day for Indian stocks: the Sensex shot up by 650 points and Nifty traded above 24,350.
This rally added nearly ₹2.4 lakh crore to BSE-listed companies' value, now at ₹482 lakh crore.
IT giants like HCL Tech, Tech Mahindra, Infosys, and TCS led the charge with gains between 2% and 5%.
Global cues ease, markets rally
Global vibes played a big part: tensions in the Middle East eased and US Federal Reserve rate-hike worries cooled off thanks to weak US jobs data.
Investors felt more confident, so foreign selling slowed and heavyweight IT stocks got snapped up.
The rupee also strengthened a bit against the US dollar, while market volatility dropped and most NSE stocks ended in the green.