Indices extend gains but rupee hits a fresh low; Sensex surges 934 points

Market players also attributed technical factors to the rebound and said it is too early to call it a reversal in fortunes

India’s benchmark indices continued their recovery on Tuesday, along with global peers, as appetite for risk assets got a boost after US President Joe Biden stressed that a recession in the world’s biggest economy was avoidable. But a day after registering a strong recovery, the rupee again breached the 78-mark against the dollar to hit a fresh low of 78.0825.

The Sensex ended the session at 52,532, following a jump of 934 points, or 1.8 per cent. The Nifty50 gained 288 points, or nearly 1.9 per cent, to settle at 15,639. Tuesday’s gain was the biggest for both indices since