Nifty reclaims 25,000, Sensex crosses 81,000 as India shrugs off global tech rout

Indian equity markets made a strong comeback on Friday, defying a global tech downturn, as the Sensex surged 1,718 points to close at 81,028 and the Nifty gained 493.75 points to reach 25,030. This decoupling was attributed to record inflows from foreign institutional investors, who invested ₹14,975 crore on Thursday and a further ₹13,749.82 crore on Friday, while domestic institutions sold ₹10,445 crore.

The Sensex and Nifty both reclaimed the 25,000 mark for the first time in over eight months. Analysts noted that Indian equities were insulated from the global sell-off due to flows, with private banks leading sector gains and media being the only sector to lose value. Global markets, however, were negative, with key indices falling 4-5.5%.

Indian IT stocks held their ground, with analysts attributing their resilience to the nature of India's IT services. The rupee strengthened to a six-month high, and gold prices declined. While broad markets did not fully participate, institutional capital continued to favor large, liquid stocks. Analysts warned of potential consolidation around the 25,000 level and suggested trimming positions and maintaining cash reserves for volatility.