Sensex jumps 905 points to 74,151 after US Fed pause
The Indian stock market had a big day on Thursday, with the Sensex jumping 905 points to close at 74,151 and the Nifty finishing at 22,937 points.
This boost came after the US Federal Reserve hit pause on interest rate hikes and FPI selling slowed down, even though oil prices stayed high and the rupee slipped a bit.
Vinod Nair cites institutional buying
Vinod Nair, head of research, Geojit Investments, says it's all about renewed institutional buying and relief from rising rates.
Foreign investors were mostly buying earlier in the week but sold off ₹944 crore on Thursday; domestic funds stepped in with ₹1,924 crore of purchases.
Meanwhile, Jio Platforms's stock was all over the place a day after a blockbuster debut on the bourses, spiking to ₹1,490 before settling at ₹1,423.
Still, Nair cautions that high oil prices and global tensions could keep things unpredictable.