Why Sensex surged 1,200 pts from day's low, Nifty topped 24,000 today?

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Why Sensex surged 1,200 pts from day's low, Nifty topped 24,000 today? - Business Standard

Quick Summary:

The BSE Sensex climbed as much as 1,207.44 points, or 1.54 per cent, from the day's low to reach a high of 79,504.14 before settling at 79,476.

The Caixin/S&P Global Services Purchasing Managers’ Index climbed to 52.0 in October, up from 50.3 in September, driven by increased confidence in future output and higher business activity.

G Chokkalingam, Founder & Head of Research at Equinomics Research, noted that positive sentiment surrounding Donald Trump's potential win in the US presidential election may have also supported the market recovery.