Stocks Rebound: Sensex, Nifty Rise After Trade Talks
Sensex, Nifty climb after a 7-day slump, boosted by positive India-US trade talk sentiment.
BUSINESS:Indian stock markets rebounded on Friday, snapping a seven-day losing streak, driven by positive investor sentiment following trade discussions between India and the US. The Sensex rose 223 points to 62,611, while the Nifty climbed 66 points to 18,644.
The rally was led by gains in metal, IT, and banking stocks. Tata Steel, Infosys, and ICICI Bank were among the top gainers on the Sensex. The Indian rupee also strengthened against the US dollar, rising 10 paise to 82.62.
The rebound in Indian stocks came after a week of losses, triggered by concerns over the US Federal Reserve's interest rate decisions and a global economic slowdown. However, the trade discussions between India and the US have boosted investor sentiment, with hopes of a potential trade deal.
"The trade talks between India and the US have provided a much-needed boost to the Indian stock markets," said an analyst at a leading brokerage firm. "The rebound in metal and IT stocks is a positive sign, and we expect the markets to remain volatile in the short term."
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