Indian Stock Market Rebounds on Easing Crude Oil Prices, Sensex Surges 299 Points
The Indian stock market rebounded on Wednesday amid easing crude oil prices and hopes of a possible de-escalation in the West Asia conflict.
The BSE Sensex climbed 299.17 points, or 0.40 per cent, to settle at 74,828.25, while the Nifty was up 117.80 points, or 0.50 per cent, to end at 23,446.80.
Tata Steel, Bajaj Finance, ITC, UltraTech Cement, Power Grid, and Larsen & Toubro were among the major winners, while HCLTech, Infosys, Tata Consultancy Services, Titan, and Mahindra & Mahindra lagged behind.
Ponmudi R, CEO of Enrich Money, attributed the market's gain to a more constructive geopolitical backdrop and softer oil prices. The Asian Development Bank raised its FY27 GDP growth forecast for India to 7 per cent, reinforcing confidence in the economy's underlying growth momentum.