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Grapevine

Indian Stock Market Surges Amid Global Uncertainty

  • India's stock benchmarks surged as much as 2% on Thursday, driven by renewed purchases by overseas investors and traders cutting bearish bets ahead of a long weekend.
  • The NSE Nifty rose 414.45 points to close at 23,851.65, while the BSE Sensex gained 1,508.91 points to end at 78,553.2, marking their best weekly gains in four years.
  • Banks led the gains with ICICI rising 3.7%, SBI advancing 3.3%, and Kotak Mahindra moving up 3%, contributing to the overall market rally.
  • Despite mixed performances in US and European markets, foreign portfolio investors bought shares worth a net '4,668 crore on Thursday, boosting market confidence.
  • Analysts caution that the rebound may be short-lived, suggesting that the current market conditions favor traders rather than long-term investors.

Source: The Economic Times, The Times Of India

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