Sensex Regains 77K As Inflation Breather Keeps Mkt Rally For 3rd Session

Mumbai: Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Wednesday following buying in banking stocks and fresh foreign fund inflows as retail inflation slipping to near six-year lows raised hopes of further rate cuts. Defying a weak global market trend, the 30-share BSE Sensex climbed 309.40 points or 0.40 per cent to settle at a two-week high of 77,044.29 in a volatile session. After a weak start, the index moved between gains and losses during the session. It hit a high of 77,110.23 and a low of 76,543.77, gyrating 566.46 points. The NSE Nifty rallied 108.65 points or 0.47 per cent to 23,437.20. Positive macro data and forecast of normal monsoon boosted investor sentiment, analysts said.

“Globally, markets are undergoing fresh consolidation as tariff tensions intensify. Amidst global weakness, the Indian market exhibited a mild positive sentiment in anticipation that the trade fight between the US & China will not harm but benefit India, and March’s CPI inflation, which is at a nearly 6-year low is indicative of further rate cuts in the near future. Domestically, the Q4 FY25 earnings season has started on a weak note. Overall expectations remain subdued, suggesting potential profit booking at higher levels,” said Vinod Nair, head (research), Geojit Investments Limited.