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.
Additionally, factors such as urbanization, rising incomes, and potentially lower interest rates further bolster the outlook. The Indian property sector has been at its healthiest in the past 15 years with strong demand momentum and low inventory overhang.
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.
The Indian stock indices will react to the disappointing GDP numbers, and await RBI monetary policy decisions, for fresh market cues, during the week that starts Monday.
Foreign Portfolio Investors (FPIs) sold equities worth Rs 21,612 crore in November, marking a significant decline in selling compared to Rs 94,017 crore in October, according to data released by the National Securities Depository Limited (NSDL).
The Foreign Portfolio Investors (FPIs) continue to influence Indian stock markets however the extent of their impact on major indices has reduced over time, says a report by ICICI Mutual Fund.