Domestic stock markets on Wednesday saw strong positive momentum for the second straight day on the back of positive global cues and status quo monetary policy announced by the RBI.
With fears over Omicron variant slowly receding, the BSE Sensex shot up by 1,016 points, or 1.76 per cent, to 58,649.68 and the NSE Nifty jumped 293 points at 17,469.75. The Sensex had gained 887 points on Tuesday. The rupee, meanwhile, fell to 75.50 against the US dollar on Wednesday. Stocks advanced in Asia after another broad rally on Wall Street as investors wagered that the Omicron variant won’t pose a big threat to the economy. A rebound in market sentiment continued in early European trading on Wednesday, with world shares set for their biggest two-day jump since November last year as investors became less concerned about the Omicron variant. Firm global cues triggered a gap-up start which further strengthened following the dovish stance of the RBI. The broader markets as well as all sectoral indices ended in the green.