Indian Stock Markets Recover Smartly with BSE Sensex above 35,000
Indian stock market recovered smartly on Tuesday with BSE Sensex convincingly above 35,000. NSE Nifty closed slightly lower than 10,600 but market breadth remained positive. Many mid-cap companies have recovered during the last three trading sessions.
Indian markets were also supported by decline in USD compared to Indian currency. The recent decline in Crude Oil has also helped Indian currency. This year, Indian currency has been the worst performer among emerging market currencies.
Mid-cap stocks have recovered ground during the last few trading sessions. Many stocks were available at deep discount compared to levels witnessed few weeks back.
Among blue-chip companies, there was a renewed buying interest in select stocks. Markets are also expecting strong quarterly results and the next few weeks could see stock specific movement depending on results declared by companies.