Indian markets end week-long losing streak, Sensex and Nifty rise
Indian stock markets finally broke their week-long losing streak on Thursday.
Sensex gained 628.04 points to end at 77,537.72, and Nifty rose 153.55 points to close at 24,231.85.
Even mid-cap and small-cap stocks saw some green, thanks to a weaker dollar and lower US bond yields, giving investors a breather.
US Treasury buybacks cool global yields
The US Treasury's plan to double its bond buybacks helped cool global yields (good news for emerging markets like India).
Still, there were some homegrown challenges: India's own bond yields ticked up after the RBI hinted at keeping rates high, oil prices rose (which could mean higher inflation), and the rupee stayed nearly unchanged because positive factors from a softer dollar index along with central bank intervention and negative factors from high crude oil prices and importer demand pulled the currency in opposite directions.
Meanwhile, foreign investors sold shares worth ₹583 crore, but domestic institutions stepped in big time, buying ₹3,537 crore worth of stocks, showing that local players are still backing the market even as global uncertainty continues.