BENGALURU: India’s benchmark indexes bounced back after a two-session drop on Thursday, led by financials on strong business updates and energy stocks on investment plans.
The blue-chips NSE Nifty 50 index climbed 0.66% to 21,658.60 points, while the S&P BSE Sensex added 0.69% to 71,847.57 points.
“Expect markets to witness consolidation in the next four to five sessions ahead of results as investors await earnings to match up to expensive valuations,” said Narendra Solanki, head of fundamental research of investment services at Anand Rathi Shares and Stock Brokers.
While investors still expect three US interest rate cuts after the Federal Reserve minutes, a likely delay in the onset of rate cuts could trigger consolidation across global markets, Solanki said.
Financials led the gains in the Nifty, adding 1.22%.
Non-bank lender Bajaj Finance jumped 4.34%, while IndusInd Bank added about 3% on strong quarterly business updates.
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