Home / Business and Economy / Indian Stocks Rebound: Sensex, Nifty Notch Modest Gains
Indian Stocks Rebound: Sensex, Nifty Notch Modest Gains
17 Feb
Summary
- Indian equity benchmarks closed higher on Tuesday, recovering from earlier losses.
- PSU banks and IT stocks provided key support, influencing market sentiment.
- Global cues remained steady, contributing to the positive market performance.
Indian equity benchmarks closed modestly higher on Tuesday, recovering from earlier losses. The BSE Sensex rose 173.81 points to end at 83,450.96, while the Nifty 50 gained 42.65 points to settle at 25,725.40. Buying in PSU banks and IT stocks, buoyed by positive Q3 earnings and the anticipated impact of artificial intelligence, provided crucial support. Global markets also offered steady cues.
Analysts noted selective bottom-fishing in IT stocks and strong performance in PSU banks. While concerns over AI-led disruptions persist, market sentiment was bolstered by gains in index heavyweights. The Volatility Index (India VIX) cooled significantly, falling below the 13 mark, and broader market indices, including midcap and smallcap gauges, also closed in the green, indicating positive market breadth.
Looking ahead, sentiment is expected to remain cautious as investors monitor global AI developments. However, a resilient GDP outlook and a stabilizing rupee may encourage renewed FII inflows. Projections suggest potential for gradual upward movement in the coming months, supported by an improving earnings outlook, though elevated valuations in consumption sectors warrant attention.
