Sensex and Nifty Surge as Economic Optimism Rises

The Sensex and Nifty indices rose in late afternoon trade after Larsen & Toubro's strong performance and optimistic GDP growth projections. Foreign institutional investors became net buyers. Asian markets were mostly positive, while Brent crude saw a slight increase. Ongoing US trade negotiations add a positive outlook.

India's benchmark equity indices, Sensex and Nifty, experienced a significant rebound in late afternoon trading on Thursday, fueled by a rally in blue-chip stocks like Larsen & Toubro. The Economic Survey's optimistic GDP growth forecast of 6.8-7.2% for the next fiscal year further bolstered market confidence.

Among the gainers were Tata Steel, Axis Bank, NTPC, Adani Ports, and State Bank of India, while Asian Paints and Mahindra & Mahindra lagged. Foreign institutional investors turned buyers, acquiring stocks worth Rs 480.26 crore, and domestic investors added Rs 3,360.59 crore to their portfolios.

Globally, Asian markets traded positively, while US markets remained flat. Brent crude prices rose slightly to USD 69.32 per barrel. Ongoing US trade negotiations offer potential clarity on the external front, according to the Economic Survey.

(With inputs from agencies.)