Indian stock markets rallied sharply on Thursday as falling crude oil prices eased inflation concerns, with technology and private banking shares drawing strong buying. The BSE Sensex rose 1,533.72 points, or 2.11%, to 74,315.61, while the NSE Nifty 50 gained 374.65 points, or 1.66%, to 22,997.35, just below 23,000. Broader markets were weaker, with the Nifty MidCap down 0.36% and the Nifty SmallCap down 1.31%. The rupee strengthened about 9 paise to 95.05 against the U.S. dollar. Analysts said sustaining the rally will depend on Q2 earnings, returning foreign investment and stable oil prices.
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Original headline: Sensex Jumps 1 , 534 Points as Falling Oil Prices Lift Indian Stocks
Read the original on indianewengland.com ↗
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Indian equity markets rallied sharply on Thursday as global bond yields eased, crude prices softened and heavyweight banking stocks gained. The BSE Sensex jumped 1,533.72 points (2.11%) to 74,315.61, while the Nifty 50 rose 374.65 points (1.66%) to 22,997.35, briefly crossing 23,000 intraday. ICICI Bank climbed nearly 4% and HDFC Bank rose over 2%, while Reliance Industries gained after developments related to the Jio Platforms public offering. The Nifty IT index rose around 11% over the last five trading sessions. However, the broader market stayed weak, with the BSE Midcap down 0.48% and Smallcap down 1.04%, and 2,668 stocks declining versus 1,720 advancing.
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The BSE Sensex rose 1,533.72 points (2.11%) to 74,315.61, a three-week high, while the NSE Nifty climbed 1.66% to 22,997.35, its highest since September 25. Banks, IT and Reliance Industries led the gains, with Tech Mahindra up 4.61%, ICICI Bank 4.17% and Reliance 4.03% after Jio Platforms set a Rs 1,065–1,119 price band for its IPO, which could raise about Rs 30,213 crore. Brent crude fell 2.34% to USD 103.6 per barrel, and analysts cited easing crude prices along with concerns over stretched AI valuations and higher US inflation that hit global tech stocks. In Asia, South Korea's Kospi dropped 7.57% and Japan's 225 index fell 4.90%, while FIIs sold equities worth Rs 1,857.44 crore on Wednesday.
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Indian stocks rose in morning trade on Friday, with the BSE Sensex up 352.31 points, or 0.47%, to 74,667.92 and IT stocks leading the gains; Tech Mahindra climbed 7.44% and Infosys advanced 4.36%. The rally followed a strong Thursday, when the Sensex surged 2.11% and the Nifty50 gained 1.66%, their biggest single-day gains in four months, supported by a rebound in global AI-related trading and lower US Treasury yields. The Securities and Exchange Board of India reversed its plan to settle expiring derivatives using the closing auction session, and will instead use volume-weighted average prices from the final 30 minutes of regular trading. Foreign investors have sold Indian shares, with year-to-date outflows of $32.8 billion, while crude oil prices remain elevated amid Middle East tensions. Investors are watching global technology stocks, interest-rate expectations, oil prices and the impact of the revised settlement mechanism.
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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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