Indian stock markets witnessed a significant rebound on Tuesday, with the Sensex and Nifty opening higher after a sharp sell-off on Monday. The BSE Sensex opened at 78,192.35, up 626 points or 0.81 per cent from the previous session's closing figure, while the Nifty 50 traded at 24,191.75, over 163 points up on opening today.
The recovery comes as US President Donald Trump hinted that the war in Iran could end soon, easing oil prices and fears of a prolonged supply shock. The Indian rupee also recovered, opening up 0.44 per cent at 91.9250 per US dollar.
The rebound in the stock market is a welcome relief after Monday's sharp decline, which was triggered by rising crude oil prices and escalating tensions in West Asia. The 30-share BSE Sensex fell 1,352.74 points, or 1.71 per cent, to close at 77,566.16, marking its second straight day of losses.
Brent crude prices also eased, down $6.51, or 6.6 per cent, at $92.45 a barrel, after hitting their highest in more than three years on Monday.
