After experiencing a historic crash on Tuesday triggered by unexpected election results, the Indian stock market showed signs of a slight rebound on Wednesday, June 5th. However, volatility continued to grip the market as investors remained cautious.
The Nifty 50 index, which had plummeted by over 1,000 points on Tuesday, recovered some ground and traded above the 22,500 mark. The BSE Sensex also witnessed a marginal recovery, hovering around 74,500. Despite the rebound, both indices were still significantly below Monday’s closing levels.
Market analysts attribute the partial recovery to bargain hunting and short-covering. However, the ongoing uncertainty surrounding the election outcome and potential political instability continues to weigh on investor sentiment.
The India VIX, a measure of market volatility, remained elevated, indicating continued nervousness among investors. While the VIX had eased from its 52-week high reached on Tuesday, it still hovered around the 25 mark.
Market experts suggest that the market is likely to remain volatile in the near term until there is more clarity on the political landscape. They advise investors to exercise caution and avoid making impulsive decisions. The focus is now on the formation of a stable government and the policy decisions that will follow.
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