What explains the dramatic rebound in stock markets despite higher-than-expected US inflation2 min read . Updated: 14 Oct 2022, 10:49 AM IST
- Oversold market positioning triggered a short-covering rally in US markets overnight: Analysts
Indian stock markets rose sharply today, tracking a rebound in global equity markets. BSE benchmark Sensex climbed over 1,000 points today while the broader Nifty 50 index was above 17,300, buoyed by Infosys and banking stocks. Infosys Ltd climbed as much as 4.6% after the country's No 2 IT services company reported a bigger-than-expected increase in second-quarter profit, boosted by strong margin growth. Nifty's IT, private sector bank and public sector bank indexes were up over 2% each.
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