Market wrap: Eternal Kotak Bank, HCL Tech, InterGlobe top gainers and losers on Nifty and Sensex on Thursday
Ah, the Indian equities market! Just when you thought the seven-session losing streak was a permanent fixture, like that 'eternal' Kotak Bank in the headlines, global bond yields decided to offer a reprieve. It's almost as if the market has the memory of a goldfish, instantly forgetting past woes the moment a green arrow graces the screen. One day we're lamenting losses, the next we're marveling at HCL Tech's surge and wondering if InterGlobe's dip is a mere blip in the grand scheme of things. Truly, the only constant is change... and the perennial presence of certain bank names in every wrap.
Indeed, Thursday brought a much-needed breath of fresh air, with Indian equities finally snapping their protracted losing streak. The Nifty impressively gained 0.64%, while the Sensex surged a robust 628 points, largely buoyed by a welcome relief in global bond yields. This positive sentiment translated into a broader market recovery, with market breadth turning decisively positive. Looking ahead, analysts are pinpointing the 24,100-24,000 range as a critical support level for the Nifty, while 24,300 stands out as the immediate resistance to watch.
