Indian stocks notched up big gains on Thursday with the Sensex rallying nearly 530 points, the sentiment much in sync with that in the Asian markets. Investors are optimistic about a Brexit deal as also progress on the vaccines to fight Covid-19. The better-than expected recovery in the Indian economy has also boosted the sentiment. Foreign Portfolio Investors (FPI)remain big buyers of Indian equities having bought close to $six billion worth of stocks in December. India is expected to receive its fair share of portfolio flows if global liquidity remains plentiful and central bankers around the world stay accommodative.
The broader NSE Nifty surged 148.15 points or 1.09% to end the session at 13,749.25 while the Sensex rose 1.14% to a record high of 46,973.54, marking a third straight day of gains.
The yield on the 5.77% 2030 sovereign bond rose three basis points to 5.98%, while the rupee strengthened 0.3% to 73.5475 against the dollar.Brent crude futures slipped 0.48% to $51.04 per barrel.
