Following a weak first half, benchmark indexes surged in the second half of Thursday on expectations that India and the US had achieved a possible trade agreement, bolstered by comments made by US President Donald Trump.
The Nifty jumped 395.20 points (1.60%), regaining the 25,000 peak after a seven-month break, and closed at 25,062.10, while the Sensex jumped 1,200.18 points (1.48%) to settle at 82,530.74. Aggressive purchasing in important industries like metals, autos, IT, and real estate drove the dramatic recovery.
With tensions between India and Pakistan decreasing and expectations of a favorable tariff policy between the US and the two Asian superpowers (China and India), equity markets may gain more traction. He did, however, warn that there is still a high possibility of intra-day volatility.
According to the BSE’s provisional data, domestic institutional investors were net sellers on Thursday, selling shares worth Rs 1,668.47 crore, while foreign portfolio investors were net buyers, purchasing shares worth Rs 5,392.94 crore.
The BSE Smallcap and BSE Midcap indices, which are more general, increased by 0.94% and 0.67%, respectively. In terms of market breadth, there were 2,615 winners and 1,350 losers. As the BSE’s entire market capitalization grew to Rs 440.2 lakh crore, investors’ wealth climbed by Rs 5.22 lakh crore.
