Sensex zooms 1,500 pts in 2 days, Nifty tops 23K: Why are bulls in charge?

Indian stock markets experienced a significant rally on Thursday. The Sensex rose 905.01 points, or 1.24 per cent, to close at 74,151.04, according to Hindu BusinessLine. Times of India reported the Sensex rose over 900 points to close at 74,151. Business Standard IN noted that building on this 905-point rise, the Sensex added another 592 points or 0.79 per cent in intraday deals to reach a two-day rise of 1,497 points.

The Nifty 50 gained 237.90 points, or 1.05 per cent, to end at 22,936.75, as reported by Hindu BusinessLine. Times of India stated the Nifty gained more than 1% to settle at 22,936.75. Factors supporting the market included the US Federal Reserve’s decision to hold rates, easing crude oil prices, positive corporate earnings, a firmer rupee, and renewed institutional buying, according to Hindu BusinessLine and Times of India.

Sectoral performance was broad-based, with Hindu BusinessLine reporting that Nifty FMCG led gains at 2.3 per cent, followed by Nifty PSU Bank at 2.2 per cent. Other sectors that closed higher included Realty, Banking, Financial Services, and IT. Nifty Auto was the only major sectoral laggard, declining 0.2 per cent, Hindu BusinessLine reported. Additionally, the India VIX declined by over 6 per cent to approximately 15.14.

Brief written by urgent.news from Business Standard IN, Times of India, Hindu BusinessLine — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.