Indian Stock Markets Rebound with Strong Gains Amid FPI Influx

Indian stock markets rebounded on Thursday, with Nifty and Sensex indices gaining over 1% by mid-session. The surge was driven by a strong domestic outlook and FPI buying. Notable gainers included ICICI Bank and Adani Ports, while IT stocks showed mixed performance.

On Thursday, Indian stock markets experienced a notable rebound, recovering from a negative opening. Both the Nifty and Sensex indices recorded gains of over 1% by mid-session, attributable to a robust domestic structural story and foreign portfolio investor (FPI) buying.

The Nifty index increased by more than 250 points to 23,707.45, marking a 1.15% rise from its initial dip. Similarly, the BSE Sensex surged more than 950 points, reaching 78,007.05, a 1.27% increase after opening on a decline. Market expert Ajay Bagga highlighted India's resilience following the post-April 2 sell-off, emphasizing the positive rerating of markets due to domestic stability and FPI engagement.

Sector-wise, all indices except Nifty IT turned green, with Nifty Banking leading the rally through significant gains in the Private Bank index. Although Nifty IT reduced its losses, it remained down by 0.95%. According to market expert Vijay Chopra, the rally is bolstered by easing crude prices, a strengthening rupee, and optimistic economic forecasts, including a promising monsoon prediction.

Top performers in the Nifty 50 included Bharti Airtel, Eternal, ICICI Bank, and Adani Ports, while Wipro, Hero MotoCorp, Tech Mahindra, and Coal India were among the top losers.

(With inputs from agencies.)