MUMBAI: India's stock benchmarks staged the sharpest intraday recovery in six months on Friday, supported by foreign investors snapping up large-cap stocks. With bulls in pole position, analysts expect the Nifty to trend up early next week to cross the 25,000-mark, where it is expected to face stiff resistance.
The last time Nifty and Sensex swung through a larger range was on June 5, a day after the Lok Sabha election results showed a third term for the National Democratic Alliance (NDA) government.
The Nifty closed up 0.9% at 24,768.30 while the Sensex closed up 1.04% at 82,133.12, as foreign institutional investors (FIIs) net purchased shares worth a provisional ₹2,335.32 crore, even as DIIs net sold a provisional ₹732.2 crore worth of shares. Analysts anticipate a sharper rally on Monday as both indices closed near the day's highs.
Before the recovery, however, the Nifty gyrated 611.50 points or 2.5% between the day's low of 24,180.80 and the high of 24,792.30. This was the sharpest swing since June 5 when the bellwether swung 878 points or 4%. From a low of 21,884.5 on June 4, the Nifty rose 20% to hit a life-high of 26,277.35 on September 27.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Bigotry, bias, acceptance: For EWS kids, school life a mixed bag
NEW DELHI: The moment her Hindi teacher announced a group quiz in class one day, dread enveloped the 15-year-old girl hiding in the back benches at a private school in south Delhi.
'Our dreams are shattered': Deaths in Georgia wreck homes in Punjab
MEA OFFICIALS SAID THEY WERE WORKING TO BRING THE BODIES BACK TO INDIA
Kurla BEST bus mishap: Test reveals driver not mentally ill
MUMBAI: Sanjay More, the driver of the BEST bus that met with an accident on December 9 in which eight people lost their lives, was not mentally ill, according to tests conducted by the police.
China building villages near Doklam in Bhutan: Sat data
NEW DELHI: China has built at least 22 villages and settlements over the past eight years within territory that has traditionally been part of Bhutan, with eight villages coming up in areas in proximity to the strategic Doklam plateau since 2020, according to satellite imagery.
67% sanitation workers from SC communities: Centre to LS
NEW DELHI: Two-thirds of sewer and septic tank workers (SSWs) in urban local bodies across India, surveyed by the Union government, come from Scheduled Caste (SC) communities, the Centre informed Parliament on Tuesday.
ONOP will test govt's ability to muster up two-thirds majority
The NDA government's ambitious plan for simultaneous national and state polls could be a test of its ability to muster the requisite numbers as it doesn't have a two-thirds majority needed to push through a Constitution amendment under Article 368 in the Lok Sabha.
'One election' bill tabled in House, may be sent to JPC
The Union government on Tuesday introduced in the Lok Sabha two bills aimed at ushering in simultaneous state and national elections amid loud protests by the Opposition - taking the first step towards implementing sweeping changes in the way polls are conducted in the world's largest democracy.
MOVE AGAINST FEDERALISM, WILL ALTER BASIC STRUCTURE: OPPN
Opposition leaders on Tuesday launched a scathing attack on the bills introduced in the Lok Sabha that propose simultaneous elections to the Lower House and state assemblies, arguing that the legislation undermines federalism, violates the Constitution's basic structure, was introduced without adequate consultation with states and envisions an impractical scenario.
BJP govts to soon bring UCC in every state: Shah
NEW DELHI: The Uniform Civil Code (UCC) implemented by Uttarakhand is a model law that will be debated widely and then the Bharatiya Janata Party (BJP) governments will bring a common civil code in all states, Union home minister Amit Shah said on Tuesday as he accused the Congress of undermining the Constitution and promoting appeasement politics.
From 2025, NTA not to hold recruitment tests
The National Testing Agency (NTA) will, from 2025, conduct only entrance exams for higher education institutions and not recruitment exams, a move aimed at improving its functioning and in keeping with the recommendations of a high-level committee set up in June 2024.
