The Indian stock market witnessed a strong rally on Dhanteras, extending the gains recorded in the previous trading session. After a nearly 2,000-point surge a day earlier, the BSE Sensex climbed over 700 points during the session, briefly crossing the 80,000 mark.
The rally came despite volatility in global markets, including the US, as Indian benchmark indices showed resilience amid international market uncertainty.
Sensex Reclaims 80,000 Level
The Sensex had closed at 79,310.01 in the previous session and opened at 79,413.66 on Dhanteras. It initially witnessed a decline, slipping to an intraday low of 79,016.05.
However, strong buying activity, particularly from foreign institutional investors (FIIs), helped the index recover sharply. The Sensex touched an intraday high of 80,044.67, crossing the psychological 80,000 mark.
At the time of reporting, the index was trading at 79,785.21, up 475 points. It recorded an overall intraday gain of 734 points.
Nifty Stages Strong Recovery
The NSE Nifty also witnessed considerable volatility during the session. After closing at 24,536.60 in the previous trading session, it initially declined to 24,388.05, registering a fall of around 150 points.
However, the index staged a strong recovery, touching an intraday high of 24,702.60.
At the time of reporting, the Nifty was trading at 24,617.70, up 81.10 points from its previous close. Its recovery from the day’s low stood at 229.65 points.