An October 9 post claimed the gain; another user quipped about supposed claims that Americans had crashed the Indian market.
On October 9, a user said the Indian stock market had added ₹3 lakh crore “so far.” Another user quote-posted it with the line, “Americans were claiming they crashed Indian stock market 😭”
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Indian shares rebounded Friday after a steep selloff, with technology stocks leading the recovery.
Mint reported that the combined market capitalization of companies listed on the Bombay Stock Exchange had increased by more than ₹3 lakh crore by 10:30 a.m. IST. That was an intraday snapshot. By the close, The Economic Times reported that the gain had grown to more than ₹4 lakh crore, taking total BSE-listed market value to nearly ₹465 lakh crore.
The Sensex rose 879 points, or 1.23%, to 72,472. The Nifty 50 gained 289 points, or 1.3%, to finish at 22,520, according to The Economic Times.
The advance followed Thursday's sharp decline, when the Sensex fell more than 1,045 points and the Nifty lost 371 points. That selloff erased more than ₹10 lakh crore from the value of BSE-listed companies, so Friday's rally recovered only part of the previous session's loss.
Reuters reported that all 16 major sectors were higher during morning trading, with the Nifty IT index up 3.3%. Investors focused on Tata Consultancy Services' quarterly results, including growth in its international business and AI-related revenue.
Mint said TCS, Infosys, HCL Technologies and Tech Mahindra rose as much as 5% during the session. Lower crude-oil prices, a stronger rupee and easing bond yields also supported the broader rebound, though oil prices and foreign-investor outflows remained risks for the Indian market.
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