The equity markets also benefited from bargain-hunting and short-covering following a tumultuous Tuesday. The Nifty 50 closed the session at 22,620, marking a gain of 736 points, or 3.4 per cent. This was the biggest single-day gain since February 1, 2021. The Sensex, meanwhile, ended the session at 74,382, surging by 2,303 points or 3.2 per cent. This uptick was the Sensex's best single-day gain since the exit polls suggested that the BJP would secure a comfortable majority.
The latest rebound helped a recovery of over 13.2 trillion in market capitalisation, following the worst-ever ₹31 trillion rout seen a day earlier.
The Sensex and the Nifty 50 had previously crashed by 6 per cent on Tuesday after the BJP, on its own, failed to cross the halfway mark of 272 seats in the Lok Sabha. The India Vix, a measure of market volatility, fell 29.4 per cent to 18.8 on Tuesday after recording its highest single-day rise in two years in a previous session.
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