Sensex rebounds 1,400 points, Nifty jumps above 22,300; INDIA VIX down 28%

8 months ago 13

The Sensex rebounded 1,400 points on Wednesday despite high volatility on Dalal Street, while the NSE Nifty jumped above 22,300.

Last week, the Indian markets ended with gains of around 2 percent amid positive India Manufacturing PMI data.

Sensex and Nifty surged sharply despite high volatility on Dalal Street.

New Delhi,UPDATED: Jun 5, 2024 11:23 IST

Benchmark stock market indices surged sharply during intraday trading on Wednesday, with the S&P BSE Sensex and NSE Nifty50 gaining over 2% each.

The development comes after the stock markets had faced their worst crash in four years on Monday as Dalal Street investors were disappointed with the outcome of the Lok Sabha election results.

The Sensex was up 1,471.89 points at 73,550.94 at 11:20 am, while the Nifty50 jumped 444.45 points to trade at 22,328.95.

Both the stock indices surged sharply in early trade today. Still, high selling pressure amid volatility dented gains, with experts predicting the possibility of choppy trade in the near term due to the unexpected results.

Even the broader market indices rose sharply, with strong gains in Nifty Small- and Mid-cap stocks. This was due to a sharp decline in volatility as indicated by a 28% drop in India VIX.

Published By:

Koustav Das

Published On:

Jun 5, 2024

Article From: www.indiatoday.in

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