Indian Markets Logged 4th Straight Gain, here’s What Drove the Rally
The Sensex rose 303 pts to close at 84,058
The Nifty gained 89 pts, ending at 25,637
The rally was supported by oil & gas stocks and positive global cues
Top Gainers & Losers
Jio Financial was the top Nifty gainer, up 3.9%
Asian Paints climbed 3.15%
Tata Consumer dropped 2.13%, the biggest loser
In the broader market, Himadri Chemical surged 11.8%, while TD Power fell over 6%
Sector Snapshot
The Oil & Gas index jumped 1.19%
Gains were seen in Pharma, Healthcare, and PSU Banks
Realty, IT, and FMCG sectors ended in the red
Global & Currency Cues
Japan’s Nikkei rose 1.43%, while Dow & Nasdaq were up nearly 1%
The rupee strengthened by 25 paise to 85.49, aided by falling crude
Focus is on the US Core PCE inflation data for further direction
CRUDE
Brent settled at $67, and WTI at $65.7
Despite the uptick, crude was headed for its worst weekly drop since March 2023
Even though markets closed the week on a strong note, it is time to be cautious ahead.
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