MUMBAI: India’s equity benchmarks rose to more than three-month highs on Thursday, led by Nestle’s India unit and Axis Bank after their earnings, while rate-sensitive sectors rallied on growing expectations of monetary easing.
Indian markets have staged a comeback in recent months, powered by tax and interest rate cuts as well as domestic inflows. Record foreign outflows, weak earnings, and global headwinds had pushed them into a correction in late 2024 with weakness persisting into early 2025.
On the day, the Nifty 50 rose 1.03 percent to 25,585.3 and the BSE Sensex added 1.04 percent to 83,467.66. The indexes are less than 3 percent below their record highs hit in September 2024. Other rate-sensitive sectors such as auto and realty gained 1.3 percent and 1.9 percent, respectively, after the monetary policy committee’s minutes hinted at a rate cut in December.
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