Experts attributed the recovery to a fall in retail inflation and rupee depreciation, among other factors. In contrast, equity indices in China and Hong Kong fell by 2% each, while Japan and Indonesia declined nearly 1% each.
"The domestic market smartly recovered from the day's low and moved out of the consolidation path, led by index heavyweights. A gradual easing in food inflation, a price hike by FMCG companies, and a recent correction in valuations supported the sector to outperform," said Vinod Nair, Head of Research, Geojit Financial Services.
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