Indian stock markets experienced a positive day on Thursday for the second time in a row. Investors bought stocks that were undervalued, and financial stocks went up after the Reserve Bank of India (RBI) decided to add $21 billion in cash to banks. Energy stocks also did well due to lower oil prices. The markets were helped by U.S. President Donald Trump’s temporary decision to hold off on tariffs for car imports from Mexico and Canada.
The main index, BSE Sensex, increased by 609.86 points, finishing at 74,340.09. The broader Nifty 50 index rose by 207.40 points to reach 22,544.70.
Key Highlights:
– Reliance Industries, which is one of the biggest companies on the stock market, saw its shares rise by 3%. Several financial analysts said it’s a good time to invest in this stock.
– Energy stocks gained 2% as crude oil prices dropped. Asian Paints, a popular paint brand, saw its shares jump by 4.8%.
– Financial stocks increased by 0.5%, helped by the RBI’s decision to provide more funds to banks. So far this year, the RBI has injected a total of Rs 4.5 lakh crore since mid-January.
– Zydus Lifesciences shares rose by 2.1% after getting approval for a leukemia drug from the U.S. Food and Drug Administration.
The trend in the broader market was also positive, with the Nifty Midcap 100 rising by 0.4% and the Nifty Smallcap 100 jumping by 1.3%.
Experts are optimistic about the market, especially after Trump’s decision eased worries about trade. They also noted that falling oil prices, due to reduced demand, are giving a boost to energy and metal sectors.
One analyst, Vinod Nair, mentioned that the market shows strength from key financial stocks. The Nifty index is recovering, and there is optimism for further gains unless it falls below 22,300.
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