Nifty reclaims 25,000, Sensex crosses 81,000 as India shrugs off global tech rout
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- ✓Nifty reclaimed 25,000 and Sensex crossed 81,000 on Friday as Indian markets ignored a global tech rout.
- ✓Sensex surged 1,718 points while Nifty gained 493.75 points.
- ✓“Indian equities decoupled from a global rout on Friday in a manner we have rarely seen,” said Hemant Sood.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
In what analysts called a rare decoupling, Indian equity markets closed sharply higher on Friday even as Wall Street’s worst session in over a year reverberated across Asian markets.
The Sensex surged 1,718 points or 2.17 per cent to close at 81,028, while the Nifty gained 493.75 points or 2.01 per cent to settle at 25,030, reclaiming the 25,000 mark for the first time in over eight months.
For the week, the Sensex gained close to 9 per cent and the Nifty around 8.6 per cent, among the strongest weekly performances in recent years.
“Indian equities decoupled from a global rout on Friday in a manner we have rarely seen,” said Hemant Sood, Founder and Managing Director of Findoc Group. “The driver is flows.”
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