In the absence of any major triggers in the stock market, the participants will keenly have their eyes on the macroeconomic indicators like IIP and CPI inflation, starting from Monday, as per the market analysts.
The Indian stock market on Thursday rallied amid the anticipation of the policy rate cuts by the Reserve Bank of India (RBI). formation of BJP-led government in Maharashtra, and foreign buying, ending in the green territory.
The Indian stock indices revived during the day on Thursday after a slow start at the opening, as investors anticipate a rate cut in the ongoing MPC meeting says market experts.
The Sensex climbed 445.29 points, or 0.56 per cent, to close at 80,248.08, while the Nifty 50 advanced 142.90 points, or 0.59 per cent, to settle at 24,274.00. The day saw robust buying activity, with 31 of the 50 Nifty-listed stocks recording advances, while 18 ended in the red.
Indian stock markets declined after opening flat on Monday, with selling pressure mounting after lower-than-expected GDP numbers were released last week.
Domestic stock markets saw selling pressure on Thursday due to the decline in tech heavyweight stocks, lack of major global cues, and weak Asian market.