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On March 6, the NIFTY50 and SENSEX rose nearly 1%, marking a second consecutive day of gains. The NIFTY50 increased by 207.40 points to 22,544.70, while the SENSEX climbed 609.87 points to 74,340.09. Broader market indices outperformed benchmarks, gaining over 1% after a nearly 2.5% surge the previous day. Advancing stocks outnumbered decliners, with 2,207 stocks up and 716 down, and 258 stocks hitting upper circuit limits.
After a decline of over 16% from its peak, the market has rebounded nearly 2.5% from recent lows, raising questions about the sustainability of this trend.
The Dollar Index (DXY), which measures the dollar’s value against six major currencies, has dropped from 110 to 104 in less than two months. This decline indicates reduced demand for the dollar due to weaker U.S. economic indicators and trade uncertainties. A weaker dollar may benefit Indian markets by reducing foreign institutional investor selling and easing rupee depreciation.
(Newsroom staff only edited this story for style from a syndicated feed)
