Stock market recap: Indian benchmark indices shrugged off a sharp global selloff to extend their winning streak to a seventh straight session on Dhanteras, with the Nifty reclaiming the 25,000 mark on strong buying in large-cap banks and financials.
The Nifty surged 493.75 points, or 2.01%, to close at its day's high of 25,030.35, while the Sensex jumped 1,718.01 points, or 2.17%, to settle at 81,028.02. The benchmarks gained about 8.6% over the week.
The rally came despite a sharp overnight selloff on Wall Street, where the Nasdaq fell 5.5% amid concerns over AI regulation and stretched technology valuations. Sentiment was supported by nearly ₹15,000 crore in record foreign buying on Thursday and a 0.6% rise in the rupee to 93.91 against the dollar, even as Brent crude rebounded to around $97 a barrel.
Banks and financials led the gains, with the Bank Nifty rising 2.27%. Consumer durables and pharmaceuticals also advanced. ICICI Bank gained about 5%, while M&M and Titan rose around 3% each. Tata Motors Passenger Vehicles, Eicher Motors and Grasim, however, lagged.
The broader market was less buoyant, with mid- and small-cap stocks underperforming and market breadth remaining negative. A total of 1,439 stocks advanced, 2,141 declined and 126 remained unchanged.