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Sensex up 10.6% in 7-session pre-Diwali rally, best in 35 yrs

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been standard dummy text ever since the 1500s,

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.


Sensex up 10.6% in 7-session pre-Diwali rally, best in 35 yrs

Gains 1,781 points fri even as US market, AI stocks crashMUMBAI: In one of the best weekly gains in recent times, sensex closed over 8.8% up as foreign funds came back to buy Indian stocks, as the US midterm polls raised hopes of policy stability, and also of a diplomatic resolution to the war in West Asia, which pulled down crude prices by about 20% in less than two weeks. In fact, the Sensex’s seven-session pre-Diwali rally, during which it notched up a 10.6% gain, was also its best such run in 35 years.On Friday, the index gained 1,781 points, its third consecutive session of four-figure point gain, despite an overnight crash in the US market, led by a rout in AI stocks.During its seven-session rally, the sensex added 7,782 points. This surge mainly rode a huge resurgence of buying by foreign portfolio investors (FPIs), which bought Indian stocks worth about Rs 49,500 crore or about $5.2 billion on a net basis, shows data from NSDL and BSE.Nifty on NSE also rallied in a similar manner with the index up 8.6% or 1,977 points this week to close at 25,030 points. The sensex closed above the psychologically important 80K mark and the Nifty above the 25K mark after more than nine months.



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