Overview
- India’s benchmarks extended gains, with the Sensex closing up 485 points at 84,065.75 and the Nifty rising 174 points to 25,867.30 after a broad-based advance.
- Public-sector banks led the move and SBI jumped about 6%, while the Nifty Bank index climbed more than 500 points and moved beyond the 60,000 level.
- Exchange data showed foreign institutional investors bought roughly Rs 1,950.77 crore on Friday, reinforcing the shift in sentiment toward equities.
- The Reserve Bank of India’s decision to keep the repo rate at 5.25% with a neutral stance underpinned stability as domestic sectors from consumer durables to realty gained.
- Global risk tone improved after Wall Street’s rebound that took the Dow above 50,000 and strong Asian sessions, though traders flagged ongoing tech volatility and upcoming US jobs and CPI reports as key tests for durability.