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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Original headline: Sensex jumps 1 , 534 points , Nifty surges to nearly three - week high led by banks
Read the original on theshillongtimes.com ↗
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- Sensex closes 1 , 534 points higher , Nifty gains 1 . 66 % as global sell - off in AI heavy markets improves India relative appeal
The Sensex rose 1,533.72 points, or 2.11%, to 74,315.61, and the Nifty 50 gained 374.65 points, or 1.66%, to 22,997.35, even as major Asian markets sold off over stretched AI valuations and higher US inflation. Geojit's Vinod Nair said the sell-off in tech-heavy markets improved India's relative appeal, with buying in large-cap tech, private banks and defensive stocks, supported by falling bond yields, a stable rupee and lower crude prices. He cautioned the rally was narrow, as small and mid-cap stocks and public sector banks weakened, and said its sustainability depends on Q2 earnings, broader participation and the return of foreign investors. Brent crude fell more than 2% to $103.55 a barrel, while IDBI Bank shares slid 8% to Rs 83.07 after the Cabinet approved a Rs 52,878 crore stake sale to Fairfax at a discount. Japan's Nikkei fell more than 5% and South Korea's KOSPI more than 8%.
- Sensex closes 1,534 points higher, Nifty gains 1.66% as global sell-off in AI-heavy markets improves India's relative appeal
The Sensex closed up 1,533.72 points (2.11%) at 74,315.61 and the Nifty 50 rose 374.65 points (1.66%) to 22,997.35 on Thursday, even as major Asian markets sold off heavily over concerns about stretched AI valuations and higher US inflation. Vinod Nair of Geojit Investments said the global tech sell-off improved India's relative appeal, drawing buying into large-cap technology, private financial and defensive stocks, supported by falling bond yields, a stable rupee and lower crude prices. However, he cautioned that the rally lacked broad participation, as small- and mid-cap stocks weakened and public sector banks were sold. IDBI Bank shares fell 8% to Rs 83.07 after the Cabinet approved a Rs 52,878 crore stake sale to Fairfax at a discount. Japan's Nikkei dropped more than 5% and South Korea's KOSPI fell more than 8%.
- Sensex closes 1 , 534 points higher , Nifty gains 1 . 66 % as global sell - off in AI heavy markets improves India relative appeal
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