Indian benchmark indices, Nifty and Sensex, experienced a notable recovery Thursday, following previous losses. The rebound was fueled by several positive factors, including the decision of the US Federal Reserve to hold interest rates steady, alongside a decline in US bond yield and oil prices.
The Nifty index rose above 19,100 points while the Sensex closed at 64,080.90 points. This upward trend was further bolstered by a range of sectors including metal, capital goods, FMCG, power, oil & gas, and realty which each saw growth between 1-2%.
The BSE Midcap and smallcap indices also followed suit with a rise of one percent each. Among the top gainers were Britannia Industries, Hindalco Industries, IndusInd Bank, Apollo Hospitals, and Eicher Motors. Conversely, stocks such as Vodafone (NASDAQ:VOD) Idea, REC, and Power Finance underwent a long build-up.
Despite experiencing a short build-up in Hero MotoCorp and losses for Bajaj Auto and Bajaj Finance, approximately 170 stocks reached their 52-week high. This includes Macrotech Developers, Oberoi Realty, Colgate Palmolive, and Esab India.
This revival in the Indian market comes after a period of losses and demonstrates the influence of global economic factors such as US Federal Reserve decisions on emerging markets like India.
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