Stock Market
Market comeback! Sensex surges 500 points after two days of bloodbath
Mumbai/IBNS: The Indian stock market opened higher on Tuesday after suffering losses for two consecutive sessions, with benchmark indices gaining in early trade amid improving global sentiment.
The BSE Sensex surged more than 500 points to 74,035 at the opening bell, while the NSE Nifty 50 climbed 0.6 percent to 23,259.45.
However, the gains were later trimmed.
Market sentiment improved as concerns over escalating tensions in the Middle East eased, prompting investors to return to riskier assets. IT stocks led the rally, tracking gains in global technology shares.
Asian markets also traded in positive territory after a strong overnight recovery on Wall Street, where chipmakers such as Nvidia and Micron Technology powered a broader market rebound.
The domestic market had witnessed sharp declines over the previous two trading sessions as investors turned cautious amid geopolitical uncertainties in the Middle East and concerns over a potential spike in crude oil prices.
Higher oil prices are generally viewed as negative for India, one of the world's largest crude importers, as they can fuel inflation and widen the country's trade deficit.
However, easing geopolitical concerns and renewed optimism in global technology stocks helped restore investor confidence, leading to a broad-based recovery in equities on Tuesday.
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