A powerful rally gripped the Indian stock market today, pushing the Sensex up nearly 700 points to an intraday high of 82,957.91, a 732-point jump from yesterday’s 82,225.92 close. After a bruising session on Tuesday, five key drivers have sparked this resurgence.
At the forefront: aggressive buying in technology stocks amid AI hype. Nifty IT advanced 2.27%, as market watchers highlight AI’s potential to overhaul workflows and unlock innovations. Deals like Infosys teaming with Anthropic and TCS partnering OpenAI exemplify this shift.
Overseas optimism amplified the gains. US bourses closed positively on Tuesday, cascading bullishness into Asian markets and bolstering India’s benchmarks.
The rupiah’s firmness against a weakening dollar—now at 90.89 after a 6-paise rise—further boosted sentiment, making local assets more competitive globally.
Critically, FIIs showed renewed interest. They bought Rs 3,483.70 crore worth on Monday, with only marginal selling yesterday at Rs 102.53 crore. This pivot from outflows suggests a bullish reassessment of Indian prospects.
Wrapping up a volatile week, this rally reinforces the market’s underlying strength. Investors are now poised for tomorrow’s open, hoping these tailwinds persist to drive new highs.