India’s stock market experienced a significant boost on Friday, with the BSE Sensex index jumping over 1,900 points, or 2.5%, to close at 79,117. This remarkable surge marked the largest single-day gain since June and effectively reversed the losses from the previous session.
The rally was broad-based, lifting stocks across various technology, finance, banking, and energy sectors. Shares of the Adani Group also saw a notable rebound after recent declines. Investors were encouraged by optimistic economic forecasts that suggest stronger growth ahead.
India GDP Growth Hits 7.6% in Q3
The Reserve Bank of India (RBI) projected that the country’s GDP growth would accelerate to 7.6% in the third quarter, up from 6.7% in the second quarter. This positive outlook was further supported by preliminary data from a Purchasing Managers’ Index (PMI) survey, which indicated that India’s private sector activity in November expanded faster in three months.
These signs have boosted investor confidence, with traders hoping the strong economic indicators will lead to improved corporate earnings and sustained market growth. Over the entire week, the Sensex index recorded a gain of approximately 2%, reflecting a bullish sentiment among market participants.