The Indian stock market demonstrated impressive growth on Thursday, driven by the US Federal Reserve's decision to keep interest rates unchanged. The shift in market sentiment led to a significant recovery.
After the close of trading, the Sensex index reached 74,151.04, showing a rise of 1.24% (905.01 points), while the Nifty climbed by 238 points or 1.05%, reaching 22,936.75. Out of the top 30 BSE stocks, only four declined, whereas 26 stocks showed growth.
Adani Port shares recorded the largest increase, rising by 5%. Additionally, Kotak Mahindra Bank shares increased by approximately 4%. Power Grid, Bajaj Finance, and Eternal shares also posted gains of over 3%. Over 2% growth was also registered in SBI, Hindustan Unilever, Titan, and NTPC shares.
Thanks to this growth, investors realized good profits. The market capitalization of BSE increased from 472 billion rupees to 477 billion rupees, representing an increase in investor invested value of 500 million rupees for the day.
The Fed's decision was a key factor: the Federal Reserve did not change interest rates on Wednesday and decided to postpone any changes in borrowing costs until the US elections next week, awaiting further inflation data, which it stated remains high.
Foreign investors also contributed. Interim data indicates that FPIs purchased Indian stocks worth 872 million rupees ($91.58 million USD) in the second consecutive session on Wednesday. Meanwhile, they sold stocks worth $3.74 billion in October. Domestic Institutional Investors (DIIs) also became net buyers, investing 643 million rupees during the session.