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Analysts expect the market recovery to continue in the near term on the back of positive global cues and value buying at lower levels.
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The NSE Nifty surged 325.55 points, or 1.45%, to close at 22,834.30. The BSE Sensex rose 1131.31 points, or 1.53%, to end at 75,301.26. Both indices have risen about 2% in the last two days.
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IndusInd Bank promoters reaffirm their commitment to the bank, viewing its depressed stock value as a strategic investment opportunity. Despite a 50% drop in six months, no fresh capital infusion is required. Hinduja Group holds a 16.29% stake, with 50.8% pledged.
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Foreign Institutional Investors (FIIs) bought Indian equities worth ₹694.57 crore on Tuesday, their first net purchase since February 19. Along with Domestic Institutional Investors (DIIs) buying ₹2,534.75 crore, this institutional inflow boosted Nifty and Sensex, which closed with significant gains.
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The Reserve Bank of India has announced a fresh open market operation to purchase government securities worth Rs 50000 crore on March 25 to ease the market liquidity condition.
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