The Indian stock market surged on Friday, with the Sensex jumping 1,961.32 points (2.54%) to close at 79,117.11 and the Nifty gaining 557.35 points (2.39%) to end at 23,907.25. The broad-based rally, driven by large-cap stocks, marked a strong rebound from oversold levels.
A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend. Blue-chip banking stocks like SBI, ICICI Bank, and IndusInd Bank led the gains, contributing significantly to the benchmark indices’ rise.
Market experts noted that global and domestic factors also supported the rally. Japan’s modest inflation decline and a 39 trillion yen stimulus package lifted global market sentiment, while easing domestic political tensions added relief for investors.
Domestic institutional investors (DIIs) bought shares worth ₹4,200.16 crore on Thursday, offsetting foreign institutional investor (FII) outflows of ₹5,320.68 crore. Experts see this correction as an opportunity to accumulate quality stocks in sectors like urbanization, infrastructure, and consumption.
The IT sector, despite recent underperformance, is expected to recover as global economic challenges ease. Positive momentum in other global markets further added to Friday’s recovery.
State Bank of India, Tata Motors, Bajaj Finance, and Tech Mahindra were among the top gainers, reflecting strong buying interest across key sectors. Investors remain optimistic about India’s long-term growth story despite global headwinds.
Also Read: Indian Stock Market Rallies Despite Geopolitical Strains; Buoyed By Strong Domestic Sectors
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