Indian markets extend 5th straight day rally, Nifty, Sensex up
Indian stock markets stayed strong for the fifth day in a row on Thursday.
Nifty closed at 24,168.00 (up 0.34%), and Sensex finished at 77,409.98 (up 0.33%).
Media and pharma stocks were bright spots, while IT and energy were sectoral exceptions.
Rupee strengthens to 94.33 against USD
The rupee strengthened to 94.33 against the US dollar, thanks to lower crude prices and positive U.S.-Iran talks.
Experts like Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, expect it to trade between 94.00 and 94.75 soon.
Vinod Nair, Head of Research, Geojit Investments Limited, noted that hopes for a U.S.-Iran peace deal are boosting optimism, but some caution remains due to US Fed signals; banking stocks stood out as investors look forward to solid credit growth.