India Stocks Hover Near 9-Month High
Indian equities rose by 447 points, or 0.5%, to 83,185 in morning trade on Thursday, marking a third straight session of gains. The rally was buoyed by optimism over a potential Iran-Israel ceasefire, with sentiment further boosted by US President Donald Trump’s statement indicating plans to meet with Iranian officials next week.
Solid domestic economic data also supported the market. In its monthly bulletin, the Reserve Bank of India noted that the Indian economy remains resilient amid ongoing global uncertainty. However, gains were tempered by comments from Federal Reserve Chair Jerome Powell on Wednesday, as the US central bank signaled no rush to cut interest rates. The BSE Sensex hovered near its highest level since early October, with strong contributions from the auto, metals, financial services, and pharmaceutical sectors. Leading gainers included Bajaj Finance (2.0%), Bharti Airtel (1.3%), Bajaj Finserv (1.2%), Tata Steel (1.1%), and NTPC (0.9%).