Mumbai, March 8
After three consecutive weeks of losses, the Indian stock market made a strong comeback, closing the week with gains of nearly 2 per cent.
The recovery was driven by favourable global and domestic cues, instilling confidence among investors. The Nifty settled at 22,552.50, while the Sensex closed at 74,332.58, marking a significant rebound.
According to market watchers, among the key drivers, the global sentiment improved following reports of a delay in US tariffs and the possibility of further negotiations, which helped stabilise financial markets.
Additionally, a weaker dollar and a decline in crude oil prices further boosted investor confidence, said Ajit Mishra, SVP, Research, Religare Broking Ltd.
On the domestic front, the Reserve Bank of India’s (RBI) decision to infuse additional liquidity into the system added to the positive momentum.
“The combination of these factors led to a broad-based rally across sectors, with metal, energy, and pharmaceutical stocks emerging as the top gainers. The broader indices also posted impressive gains, rising between 2.6 per cent and 5.5 per cent,” Mishra mentioned.