India’s benchmark indices recorded their best day in nearly four months on Friday, a day after a $1.87-billion (Rs 15,446-crore) investment by US-based boutique investment firm GQG Partners in four Adani companies assuaged investor concerns.
Supportive global cues on the back of positive economic data and less hawkish Fed statements, and value buying following a decline in the market in nine of the previous 10 trading sessions, also aided the rally, with banking stocks leading the gains.
The Sensex surged 900 points, or 1.53 per cent, to close the session at 59,809, while the Nifty50 index settled at 17, 594, with a gain of 272 points, or 1.57 per cent. These were the best single-day gains for both the indices since November 11, 2022. The Bank Nifty index rose 2.1 per cent, while the Nifty PSU Bank index zoomed 5.4 per cent.
This story is from the March 04, 2023 edition of Business Standard.
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This story is from the March 04, 2023 edition of Business Standard.
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