Market wrap: Sensex, Nifty rebound amid cooling inflation
Indian stock markets finally broke their four-day slump on Tuesday.
The Sensex jumped 317 points to close at 82,570.91, while the Nifty crossed the 25,000 mark, ending at 25,195.80.
This rebound came after June's retail inflation dropped to a six-year low of 2.10%, easing worries about steep interest rate hikes and sparking renewed buying across sectors.
Pharma stocks surge; IT shares take a hit
Pharma and auto stocks were in the spotlight—Sun Pharma surged nearly 3% thanks to buzz around its new anti-baldness drug in the US.
Tata Motors, Bajaj Finance, and Mahindra also posted solid gains.
On the flip side, HCL Tech slid over 3% after disappointing earnings and a cautious outlook hit IT stocks.
Global markets steady up ahead of US inflation data
With inflation cooling off, there's fresh hope for possible RBI rate cuts—good news for anyone watching loans or EMIs.
Investors are also eyeing upcoming US inflation data for clues on where global markets might head next.
For now, things look steady globally with equities inching up and gold and oil prices holding firm as geopolitical tensions ease a bit.