The Indian stock market surged on Wednesday, with the Sensex and Nifty gaining up to 1%, driven by improved investor sentiment after the RBI Governor signalled that further rate hikes may be premature, alongside a rebound in South Korean equities and other supportive global cues.
Sensex jumped nearly 791 points to close at 76,991, while Nifty 50 gained around 198 points to end the session at 24,022. This comes as India VIX, which measures volatility in the market, dropped over 4% to 13.34. The sharp gains added around Rs 1.3 lakh crore to the total market capitalisation of all companies listed on BSE, taking it to Rs 476 lakh crore.
