The Sensex climbed 595 points to close at 84,466, and the Nifty 50 rose 181 points to 25,875.
Here are the key factors driving the rally:
1. IT stocks in focus
Tech stocks rose after US President Donald Trump softened his tone on H-1B visas, saying the US “needs skilled workers from abroad.” Infosys, TCS and Tech Mahindra all gained over 3%, pushing the Nifty IT index up over 2%.
2. Optimism about trade deals
Reports of progress in US-India trade talks contributed to the rally. Experts say a deal could further boost market sentiment, although foreign investors at higher levels may remain cautious.
3. The rally in US bonds fuels global risk sentiment
A rally in US government bonds boosted global stock markets as weak jobs data raised hopes of another Fed rate cut. This gave emerging markets, including India, an extra boost.
4. Bihar exit polls favor NDA
Exit polls predicting a victory for the ruling NDA coalition reduced political uncertainty and lifted domestic sentiment ahead of the official results.
5. Trust leads the charge
Reliance Industries was among the biggest gainers, up almost 2%, supported by optimism about US-India trade progress and strong momentum in its key businesses.
6. Profits boost sentiment
Strong quarterly figures from companies such as Belrise Industries and BSE Ltd contributed to the positive tone, keeping domestic buying interest high.
For now, the bulls appear to be in firm control of Dalal Street, supported by solid gains, improving global cues and renewed policy optimism.
That’s all for today’s ET Market Watch Podcast.
I’m Neha Vashishth, thanks for tuning in.
#Markets #Watch #key #factors #Sensexs #595point #jump #Nifty #tops #Economic #Times #Podcast