After the massive market crash on Monday, Sensex and Nifty jumped back up in early trade, providing hopes to investors with the green territory in the Indian stock market.
BSE Sensex jumped by 1,092.68 points to 79,852.08, Nifty went up to 24,382.60 by 327 points.
Among the 30 Sensex firms trading in positive territory, Tata Motors, Tech Mahindra, HCL Technologies, JSW Steel, HCL Technologies and Infosys were the biggest gainers.
Bank, Auto, Financial Services, FMCG, IT, Media, Metal, Pharma, PSU Bank, Private Bank, Realty, Healthcare, etc., among the sectoral stocks, all were in green at opening.
A stark jump was also seen in the Japanese and Korean markets, while US stock futures were also up. Japan's Nikkei 225 rebounded 10.5 per cent and South Korea's Kospi rose over 4 per cent.
Market Expert Sunil Shah told news agency ANI, "On expected lines, today, Sensex opened with gap up because we saw a huge bounce back in Nikkei index, the Japanese market is up by 10%. Our markets were expected to open with a gap up...Whenever there is a correction, the corrections are being brought over and people are confident."
Though the corrections may be a little sharp, Shah added, they are being brought over and the corrections may be sharp, but then they are short-lived.
The Indian rupee also recovered from its all-time low level and opened 25 paise higher at 83.84 against the US dollar in morning trade, mirroring the rebound in the domestic equity market.
On Monday, with the crashing stock markets, Indian Rupee had also fallen to an all-time low of 83.80 compared to the US Dollar.
Japan's Nikkei 225 stock index also sunk as much as 8.1 per cent early yesterday. South Korea's Kospi dropped by 4.7 per cent, Australia's ASX200 fell 3 per cent, and Hong Kong's Hang Seng edged 1 per cent lower.
US stock futures also fell with Dow Jones Industrial Average sinking by 383 points. S&P 500 futures and Nasdaq-100 futures dipped by 1.6 per cent and 2.5 per cent, respectively.
