Indian equity markets experienced a strong recovery on Thursday, following two consecutive days of losses. The rebound was driven by a dovish stance from the US Federal Reserve, which bolstered investor confidence. Both the BSE Sensex and the NSE Nifty50 index reported substantial gains after suffering declines the previous day.
The BSE Sensex advanced by 489.57 points (0.77%) to close at 64,080.90, a significant recovery from its previous close at 63,591.33. Similarly, the NSE Nifty50 index gained 144.10 points (0.76%) to end at 19,133.25, rebounding from its prior closing figure of 18,989.15.
Throughout the day, the Nifty marked an intraday high of 19,175.25 and a low of 19,064.15 with resistance and support levels identified at 19,150 and 19,050 respectively.
Among the Nifty50 stocks, Britannia, Hindalco, IndusInd Bank, Apollo Hospitals and Eicher Motors emerged as top gainers. Conversely, Hero Motocorp, Bajaj Auto, HDFC Life, ONGC and Adani Enterprises trailed behind.
On the Bombay Stock Exchange (BSE), out of 3,791 traded stocks on Thursday, a total of 2,322 advanced while 1,328 declined; the remaining 141 stocks remained unchanged.
The market's robust response to the US Federal Reserve's dovish stance indicates a positive sentiment among investors in Indian equity markets and suggests a potential stabilizing trend following recent losses.
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