Mumbai, March 22 : Indian benchmark indices Sensex and Nifty registered their strongest weekly performance in nearly four years, driven by buying at lower levels and renewed hopes of foreign portfolio investors returning to the market. Both indices rose by 4.3 percent during the week, marking the best weekly gain for the Sensex since July 22, 2022.
Analysts attributed the rally to value buying at lower levels and optimism sparked by the US Federal Reserve’s projection of two rate cuts later this year, which lifted investor sentiment across global markets.
The week began on a positive note, with banking, financial, and auto stocks leading the charge amid favorable global cues. On Monday, the BSE Sensex opened 374 points higher at 74,203 and closed with a gain of 341.04 points at 74,169.95. The Nifty 50 opened 119 points up at 22,517 and ended the day with a gain of 111.55 points at 22,508.75.
On Tuesday, both indices surged further with the Sensex opening over 900 points higher at the 75,000 mark. It closed 1,131.31 points up at 75,301.26. The Nifty opened at 22,774.65, gaining 265.9 points, and closed 325 points higher at 22,834.
As per agency report, Wednesday saw continued momentum as the Sensex opened with a gain of 132.97 points at 75,434.23 and closed 147.79 points up at 75,449.05. The Nifty opened 49.4 points higher at 22,883.70 and ended with a gain of 73.30 points at 22,907.60.
The rally intensified on Thursday as the Sensex opened 468 points higher at 75,917 and closed with a remarkable 899-point jump at 76,348. The Nifty surged 283 points during the session to end at 23,190 after opening at 23,036.
On Friday, despite a weak start, the markets recovered smartly. The Sensex initially dropped 252.8 points to open at 76,095.26 but rebounded to close 557.45 points higher at 76,905.51. The Nifty also slipped by 57.85 points at the open to 23,132.80 but eventually ended 159.75 points up at 23,350.40.
The week’s strong performance reflects growing confidence among investors, driven by favorable global trends and domestic economic resilience, raising hopes of continued market strength in the coming sessions.
