Sensex jumps 813 points, Nifty tops 25,400 on global relief rally.
After three sessions of losses, domestic equities surged on Thursday, driven by positive global cues. The BSE Sensex climbed 812.96 points to 82,722.49, while the NSE Nifty rose 255.83 points to 25,402.23, with all 16 major sectors trading in the green. Small- and mid-cap indices gained around 1% each.
Markets cheered US President Donald Trump ruling out force to seize Greenland and abandoning new tariffs on Europe, easing fears of a trade war. Asian markets rose 1%, tracking overnight gains on Wall Street. Gold eased after hitting record highs in the previous session.
Trump also hinted at a positive development for India, telling Moneycontrol the US is “going to have a good deal” with the country, raising hopes of a bilateral trade agreement.
“The market rally is significant as Trump’s withdrawal of threats to Greenland and Europe removes a major overhang,” said V K Vijayakumar, Chief Investment Strategist at Geojit Investments. “Short-covering is likely, given around 2 lakh short contracts in the market.”
On the corporate front, Q3 earnings were impacted by higher provisions under the new labour code, but analysts say this is a one-time effect. Eternal stood out with strong revenue and profit growth from its quick commerce business. The combination of easing global tensions and positive domestic earnings drove a broad-based market recovery, ending three days of declines on a strong note.
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