Indian Stock Market Posts Significant Recovery After Steepest Weekly Decline

The Indian stock market experienced a significant recovery in the past week, after suffering its steepest weekly decline in months. The NIFTY50 index rose by around 2.6% to close at 24,383, while the SENSEX advanced by a similar amount to settle at 78,094.

The market started the week on a positive note following the U.S. temporary suspension of air strikes against Iran, which led to a sharp correction in crude oil prices. The rupee also strengthened, foreign investors returned to the cash market, and quarterly earnings supported stock-specific buying.

However, the U.S. Federal Reserve's pause in policy rate and renewed volatility in crude oil prices restricted the upside of the market.