Sensex and Nifty Rebound Amid Ceasefire Hopes and Crude Price Correction
Benchmark indices Sensex and Nifty rebounded sharply, driven by falling crude oil prices amid potential ceasefire in West Asia. Intense buying in banking and IT stocks along with a stronger rupee uplifted the market. Sectoral gains were witnessed, particularly in consumer durables and IT stocks.
- Country:
- India
On Monday, Indian benchmark indices Sensex and Nifty experienced a significant rebound after an initial dip, prompted by falling crude prices and ceasefire hopes in West Asia.
Investor sentiment was bolstered by strong buying in banking and IT stocks, alongside a strengthening rupee, which contributed to the market's sharp rise.
The BSE Sensex surged 1.07%, while the NSE Nifty climbed 1.12%. Consumer durables and IT sectors posted notable performances, spurred by a positive demand outlook amid geopolitical uncertainties.
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