Indian stock market staged a sharp recovery on Wednesday afternoon after recording a significant crash earlier during the day, as media reports on the government planning to reduce taxes and remove caps on the ownership of some bonds boosted investor sentiment.
Earlier during the day, Sensex had crashed 1,157 points to fall to 73,493, while Nifty 50 tumbled over 332 points to fall near 23,151. However, the benchmark indices recovered most of the losses by the afternoon, with Sensex and Nifty rising over 850 points and 254 points, respectively, to end the session at 74,346 and 23,406.
