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Tariff hopes, end of conflict lift Nifty to seven-month high
Mint Mumbai
|May 16, 2025
India's benchmark Nifty 50 index surged past the key 25,000 mark on Thursday, notching its highest close in seven months, amid signs of easing geopolitical tensions.
India's benchmark Nifty 50 index surged past the key 25,000 mark on Thursday, notching its highest close in seven months, amid signs of easing geopolitical tensions. The rally coincided with the weekly derivatives expiry, pushing volume turnover on the National Stock Exchange to ₹1.28 trillion—the highest since 27 March's ₹1.5 trillion mark.
Besides, short-covering got a lift after US President Donald Trump said India had offered a "zero-tariff" trade deal for American goods. However, after market hours, India dismissed Trump's claim, with external affairs minister S. Jaishankar clarifying that trade talks with the US were still ongoing and "complicated".
On Thursday, FIIs net purchased Indian equities worth ₹5,393 crore while domestic institutional investors net sold shares worth ₹1,668 crore, provisional data showed.
Adding to the market buzz, MSCI India's upcoming index rejig on 30 May likely prompted mutual funds and exchange-traded funds (ETFs) tracking the index to begin realigning their portfolios.
This story is from the May 16, 2025 edition of Mint Mumbai.
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