AFTER two months of intense selling pressure, domestic equity market staged a significant rally on Friday, with benchmark indices BSE Sensex and NSE Nifty 50 surging about 2.5% each—their highest single-day gain in nearly five months.
The Sensex soared over 2,000 points intraday, while the Nifty climbed more than 600 points as investors rushed to buy heavyweight stocks like Reliance, Infosys, TCS, and SBI.
Market experts attribute the rally to expectations of a BJP-led Mahayuti victory in the Maharashtra assembly election, with results for Maharashtra and Jharkhand set to be announced on Saturday. A recovery in Adani Group shares, which had plunged by up to 23% on Thursday following bribery allegations, also helped boost market sentiment.
This story is from the November 23, 2024 edition of The Morning Standard.
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This story is from the November 23, 2024 edition of The Morning Standard.
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