Sensex on Fire! 1,500-Point Rally Puts Bulls Back in the Driver’s Seat. What Just Happened?
- India’s Sensex rose 1,533.72 points, or 2.11%, to close at 74,315.61, while the Nifty 50 reached 22,997.35.
- Information technology and banking shares led the gains, with Tech Mahindra and ICICI Bank among the notable advancers.
- Lower crude prices, a steadier rupee, and expectations of renewed foreign investment supported market sentiment.
- Vinod Nair of Geojit Investments said the rally had limited breadth, as small- and mid-cap stocks and PSU banks weakened.
15 Articles
15 Articles
Sensex Closes 1,534 Points Higher, Nifty Gains 1.66% as Global Sell-off in AI Heavy Markets Improves India's Relative Appeal
Get latest articles and stories on Business at LatestLY. The stock markets closed sharply higher on Thursday, with the Sensex surging 1,533.72 points or 2.11 per cent to 74,315.61 and the Nifty 50 gaining 374.65 points or 1.66 per cent to 22,997.35, even as major Asian markets witnessed heavy selling amid concerns over stretched valuations of artificial intelligence companies and higher US inflation. Business News | Sensex Closes 1,534 Points Hi…
Stock surges over 1,500 points, Nifty closes near 23,000 amid easing crude oil prices
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Indian benchmarks rallied more than 2% on Thursday, with the Sensex topping 74,330 and the Nifty reclaiming 23,000. Strong IT earnings, buying in financial and consumer stocks, a firmer rupee and lower oil prices supported sentiment despite weakness in Asian markets.
5 reasons why the market is rallying today: Sensex rockets 1,400 points, Nifty crosses 23,000
Sensex surges over 1,000 points and Nifty crosses 22,900 on October 15. IT stocks extend gains as falling crude oil prices, a stronger rupee and Q2 earnings optimism support the market.
Sensex on fire! 1,500-point rally puts bulls back in the driver’s seat. What just happened?
Sensex surged 1,534 points and Nifty gained nearly 375 points on Thursday, rebounding after the previous sessions decline. Gains in IT, banking and consumer stocks lifted sentiment. Falling oil prices and rupee strength also supported the market amid global volatility and concerns over US inflation.
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