Benchmark indices Nifty and Sensex rebounded in the afternoon on December 2, with Nifty rising to 24,170 and Sensex to 79,942, supported by gains in pharma, realty, and auto stocks. Despite India's GDP growth slowing to 5.4% in Q2, analysts suggest that the market's reaction may be muted, viewing potential dips as buying opportunities.
The Nifty and Sensex reversed gains after a strong opening, closing lower due to declines in auto and energy stocks. The Sensex fell by 147.14 points to 79,962.71, while the Nifty dropped 39.40 points to 24,182.50, amid concerns over earnings and a lack of positive market triggers. Despite a significant influx of foreign institutional investment, experts caution that the recent rally may not be sustainable.
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