Indian equity benchmarks staged a strong recovery, with the Sensex gaining more than 500 points and the Nifty reclaiming the 24,200 level. Banking and financial stocks led the rally as investors welcomed softer-than-expected U.S. inflation data, which strengthened expectations that the U.S. Federal Reserve could consider interest rate cuts later this year.
The recovery came despite elevated crude oil prices and continued geopolitical uncertainty in the Middle East. Market participants also noted renewed buying by foreign institutional investors, which helped improve sentiment across large-cap stocks. Analysts expect the ongoing earnings season to determine whether the rally can be sustained.
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