On November 22, Indian equity markets saw a significant surge, with the BSE Sensex rising almost 2,000 points and the NSE Nifty crossing 23,900, resulting in a 2.5 percent increase. This increase was attributed to a technical bounceback caused by oversold conditions and short-covering during a bearish market phase.

Dharmesh Kant, Head of Equity Research at Chola Securities, pointed out that such sharp rises are typical in bear markets, where short-term bounces can occur. He emphasized that the sustainability of this rally will depend on the market's reaction to upcoming events, including the results of the Maharashtra elections. These developments are being closely monitored by investors and analysts to determine the future direction of the market.

The rebound added around Rs 7.58 lakh crore to investor wealth, reflecting a strong market response after a prolonged correction that had dampened sentiment since October.