Market Rally Erases Year’s Losses

In an astonishing turn of events, the Indian stock market witnessed a significant rally, with the Sensex soaring by 3,000 points over three days to top the 78,000 mark. This remarkable recovery has effectively erased the year's losses, bringing joy to investors.

Banking and Financial Stocks Lead the Charge

Strong buying in banking and financial services companies, alongside Reliance Industries, fueled the intraday reversal. Despite the tech sector's lag, the overall market sentiment remained bullish, ignoring the overnight selloff on Wall Street.

Foreign Investments Boost Market Confidence

Foreign fund managers played a pivotal role in the day's rally, net buying stocks worth Rs 4,668 crore. Over the week, foreign portfolio investments totaled nearly Rs 15,600 crore, signaling strong confidence in India's market potential.

Wealth Addition and Future Prospects

The rally added approximately Rs 4.6 lakh crore to investors’ wealth, with the BSE’s market capitalisation reaching Rs 419.6 lakh crore. With markets closed for Good Friday, investors are optimistic about the future, buoyed by easing retail inflation and a normal monsoon forecast.