Indian benchmark indices closed higher, rebounding from their steepest single-day drop in a month. The recovery was fueled by value buying and cooler-than-expected inflation data from both India and the U.S., which lifted hopes of additional interest rate cuts.
Key Highlights:
Sensex: ▲ 182.34 points to 81,330.56
Nifty 50: ▲ 88.55 points to 24,666.90
Investor Wealth: Market capitalization of BSE-listed firms rose by nearly ₹4 lakh crore, from ₹431.10 lakh crore to ₹434.97 lakh crore
Market Drivers:
India Inflation (April): Eased to 3.16%, a six-year low, increasing the likelihood of an RBI rate cut in June.
U.S. Inflation: Came in cooler than expected, easing fears of stagflation and sparking a rally on Wall Street.
Sectoral Performance:
Top Gainers:
Capital Goods: +985 pts
Metals: +735 pts
IT: +501 pts
Laggards:
Banking: BSE Bankex down 210 pts to 62,371
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