Sensex rises 1,293 points as FPIs break sell-off

Buying across the board lifted the Sensex by 1,293 points or 1.6% on Friday to close at 81,333 points, less than half a percentage point off its all-time high. The rally in global markets, along with strong quarterly results for most domestic companies, boosted investor attitude– say brokers and analysts.
On NSE, Nifty gained 429 points (1.8%) to close at 24,835 points. Barring blue-chip stocks, the BSE mid-cap index closed over 2.1% higher and the small-cap index closed 1% higher.
The daily rise in stock values ​​contributed to an increase in investor wealth of Rs 7 trillion, official data showed, and India’s market capitalisation has now reached a record high of almost Rs 470 trillion.

According to Prashanth Tapse, Senior Vice President (Research), Mehta Equities, the domestic market outperformed its global peers on the back of strong buyer support across the board after remaining in the red for the last five trading sessions. “The sharp rebound indicates that India remains a good long-term bet and the economy continues to show strong resilience despite global uncertainties and geopolitical tensions. Also, most blue chips and midcaps reported better earnings, which provided a major boost to the markets.”
Foreign investors, who remained net sellers of equities since the Budget day, turned net buyers on Friday. Foreign portfolio investors poured Rs 2,546 crore into the market, while domestic funds were net buyers to the tune of Rs 2,774 crore, BSE data showed.
Of the 30 Sensex stocks, only one, Nestle, closed in the red on Friday, indicating the strength of the rally. However, the broader market saw a much more balanced mix of gains and losses. As against 2,595 stocks on the BSE that closed higher, 1,354 stocks closed in the red.