🐂 Nifty surged past the 25,250 mark, with the Sensex closing 329 points higher, primarily lifted by a strong rally in financial stocks.
🐂 Foreign Portfolio Investors (FPIs) extended their buying streak to the third consecutive session, signaling renewed confidence in the Indian market.
🐂 Tata Communications was the star of the day, rocketing up 15% on strong volumes, fueled by optimism around its potential in the AI and data center ecosystem following TCS’s investment plans.
🐻 The IT sector acted as a drag on the market after Tata Consultancy Services (TCS) reported weaker-than-expected Q2 results.
🐻 WeWork India experienced a weak stock market debut, listing flat before slipping over 5%, indicating cautious investor sentiment towards the IPO.
🐻 In a notable move, Jefferies’ global strategist Chris Wood trimmed his allocation to India to increase his investment in Chinese equities.
The market ended the week on a confident footing, driven by the decisive return of foreign capital into heavyweight financial stocks. This inflow powered the Nifty beyond a key psychological level and underscored the bullish sentiment for India’s domestic growth story. However, a clear divergence is now visible, with the export-oriented IT sector showing signs of strain after disappointing earnings from bellwethers. While specific themes like AI are creating spectacular gains in select stocks, the lackluster listing of WeWork and a cautious portfolio shift from a prominent global investor serve as reminders that the path forward may require more selectivity.
Stay sharp.
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