The Indian stock market witnessed a strong rally on Thursday. The Sensex jumped 1,609.54 points, or 2.08 percent, to 78,910.94 at the start of trading, while the Nifty 50 gained 417.45 points, or 1.74 percent, to close at 24,378.05.
Mumbai: After ending lower for the seventh consecutive week, the Indian stock market is likely to take cues from crude oil prices, global bond yields, foreign fund flows, geopolitical developments in the Middle East, and key US economic data releases in the coming week. Market sentiment remained subdued through most of the week, with indices.
Indian equity benchmarks Nifty and Sensex ended lower for the seventh straight week as high crude prices, rising US bond yields and foreign institutional selling weighed on markets.
The Indian equity markets posted notable losses early on Thursday amid renewed pressure from global bond yields, which is outweighing the supportive effect of softer crude prices.
Domestic equity benchmarks opened sharply lower on Wednesday weighed down by a surge in crude oil prices after the US and Iran exchanged strikes overnight, escalating tensions in the Middle East.