Thursday brought cheer to Indian stock markets as the Sensex catapulted 301 points higher, powered by optimistic vibes from the US ambassador’s recent address. This marked a strong rebound, with the index closing above key psychological levels.
The envoy’s candid endorsement of India-US strategic ties, including hints at eased trade norms, electrified sentiment. Delivered against a backdrop of global trade jitters, the message resonated deeply with market participants seeking stability.
Sectoral indices painted a vibrant picture: banking soared on robust loan growth prospects, IT rallied on deal wins, and metals benefited from commodity price upticks. Standouts included ICICI Bank, TCS, and Tata Steel.
Foreign funds reversed course, injecting billions after recent net selling. Domestic mutual funds continued their buying spree, providing a solid floor. Turnover spiked, reflecting heightened conviction.
The surge extended to mid and small caps, where high-beta names delivered blockbuster returns. This rotation signals a healthy market, balancing growth and value plays.
From a big-picture view, today’s action reinforces the bull market narrative. Despite headwinds like inflation and rate hikes, structural tailwinds—demographics, digitization, and diplomacy—are propelling equities higher.
Participants now brace for volatility from US jobs data and RBI commentary. Still, the ambassador’s bullish outlook positions Indian markets favorably for the road ahead, potentially unlocking multibillion-dollar opportunities.