Markets experienced their largest single-day gain in two months, with the Sensex rising over 1,000 points and the Nifty surpassing 23,750, driven by a broad-based rally. Despite this rebound, experts caution that sustained recovery is unlikely due to foreign institutional investors" selling and concerns over weak earnings growth in FY25. The market may consolidate around current levels with sideways movements.
The Sensex and Nifty fell by 1% amid persistent FII outflows and disappointing earnings, marking the fifth consecutive session of declines. The broader market suffered significantly, with the BSE Midcap and Smallcap indices down 2% and nearly 3%, respectively, while India VIX rose over 7%. IndusInd Bank's shares plummeted nearly 20% following poor quarterly results, contrasting with Godrej Consumer Products, which saw a 2% rise after positive brokerage calls.
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