The 30-share BSE Sensex rallied 1,000.36 points to close at 83,755.87, recording its highest close since October 2024

FPJ News Service mumbai

Despite the global economic outlook continuing to face exceptionally high economic uncertainty, Indian markets remained resilient for the third consecutive day on Thursday. As international economists point out, “moments of challenge can also be moments of opportunity”. The 30-share BSE Sensex rallied 1,000.36 points to close at 83,755.87, recording its highest close since October 2024.

The 50-share NSE Nifty rallied 304.25 points to 25,549. The BSE Sensex surged 2.27% in three days. The aggregate market capitalisation of BSE-listed companies climbed Rs 9.7 lakh crore to Rs 457 lakh crore, making investors wealthier by Rs 9.70 lakh crore in three days of rally. Heavyweight counters, including HDFC Bank, Reliance Industries and ICICI Bank witnessed intense buying. Shares of Reliance Ind climbed nearly 2%, with its market valuation breaching Rs 20 lakh crore- mark. The stock went up by 1.90% to settle at Rs 1,495.20 on the BSE. At the NSE, it rallied 1.90% to Rs 1,495.30. Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, and Axis Bank were among the other major gainers.

India is positioned as a key alternative manufacturing hub for technology and auto sectors, benefiting from companies diversifying away from China. More Indian manufacturing companies are expected to enter the capital market.  “India’s resilience amid global uncertainties will depend on its ability to leverage domestic demand, attract foreign investment, and manage funding challenges effectively.

“The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Mideast ceasefire, which has eased concerns over potential supply chain disruptions. FIIs continued to pare holdings due to the narrowing yield spread between US and Indian 10-year bonds.

“Domestic institutions emerged as net buyers, buoyed by improving liquidity conditions, and a rebound in domestic consumption. Across the broader market, key sectors such as banking and auto posted notable gains, supported by easing domestic inflation concerns,” Vinod Nair, Head of Research, Geojit Investments.

India is likely to benefit from ongoing trade tensions as companies diversify production away from China. Domestic demand for power-generation equipment and defense products may support earnings despite global uncertainties. One of the leading global rating agencies on Thursday said, India is emerging as a key market outside of China for tariff-affected tech production. Companies may increase spending to diversify manufacturing geographically. The country may face indirect impacts from US-China trade tensions, including slower global growth and reduced export demand.