Sensex and Nifty rallied sharply on Thursday while most Asian markets fell deeply, with analysts saying India's relatively lower valuation versus global peers could draw foreign funds back. Sensex closed up 1,534 points (2.1%) at 74,316, and Nifty rose 375 points (1.7%) to 22,997, while Kospi in South Korea fell 8% and Nikkei in Japan dropped 4.9%. Vinod Nair of Geojit Investments said concerns over stretched AI valuations and higher US inflation triggered a tech sell-off globally, boosting India's appeal, with easing bond yields and a steady rupee also helping. Foreign funds were net sellers of Rs 5,285 crore during the session, while domestic funds were net buyers of Rs 3,319 crore, BSE data showed.
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