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Sensex Rises 628 Points as Nifty Ends 7-Day Slide
Fresh foreign fund inflows and easing global bond yields lifted Indian equities, with the Sensex rising 628 points and the Nifty ending a seven-day slide.
On Thursday, Indian benchmark indices rebounded sharply, with the BSE Sensex jumping 628 points to 77,537.72 and the NSE Nifty rising 153.55 points to 24,231.85, snapping a seven-day losing streak.
Easing global bond yields revived risk appetite as the U.S. Treasury announced plans to double long-dated debt buybacks, pulling the 10-year Treasury yield to 4.65 per cent and encouraging fresh foreign fund inflows.
Financial and IT stocks led the recovery; among BSE Sensex gainers were Eternal, Kotak Mahindra Bank, ITC, Bajaj Finance, and Axis Bank, while Tata Steel, InterGlobe Aviation, HCL Tech, and Titan lagged.
Vinod Nair, Head of Research at Geojit Investments Ltd, noted the recovery was widespread, though he cautioned that "stubbornly high crude oil prices" driven by unresolved US-Iran tensions threaten profitability.
Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, a SEBI-registered Research Analyst, called the rebound "a decisive shift" from the cautious tone that had dominated the market's longest losing streak in nearly 11 months.