New Delhi, April 29 -- Despite elevated crude oil prices driven by persisting concerns over the stalled US-Iran talks, foreign capital outflows, the rupee's weakness and mixed Q4 earnings, the Indian stock market has staged a significant recovery in April.

Looking set to snap their four-month losing streak, equity benchmarks, the Sensex and the Nifty 50, are up over 8% so far in April. This rebound has largely been driven by value buying after the sharp more than 11% decline in March. Year-to-date, the Nifty 50 is down 8%, while over the last year, it is flat.

On Wednesday, 29 April, the NSE barometer jumped 1.40% during the session to hit an intraday high of 24,332. The market appears to be discounting that the worst in terms of geopol...