Sensex gains 250 points, IT, bank stocks are among the top gainers
The Sensex was at 34,573, up 228.58 points, while the Nifty was 10,481, up 51.35 points.
The benchmark indices rose, driven by IT stocks such as Infosys and Tata Consultancy Services.
The rupee has weakened by more than 7% so far this year. Rising crude oil prices weigh heavily on India, which is the world’s third largest importer of the commodity.
There are fears that the soaring costs could drive up inflation and widen the trade deficit.