Mumbai: The Indian rupee made a strong comeback on Tuesday, surging 56 paise against the US dollar in early trade, stabilizing at 88.25 per dollar. This rally was mirrored in the domestic stock market, where the Sensex climbed over 350 points, recovering losses from previous sessions.

The rupee's appreciation was primarily driven by two key factors: a weakening dollar globally and a decline in international oil prices. The rebound comes a day after the rupee had closed at a record low, exacerbated by significant selling from foreign institutional investors, who offloaded equities worth ₹1,508 crore.

Key stocks driving the market's momentum included Tata Motors, Reliance Industries, ICICI Bank, and HDFC Bank.