Diwali Bonanza: NIFTY50, SENSEX extend winning streak to seventh straight session; rally 8% in a week

Indian benchmark indices extend their gains for the seventh consecutive day on Friday, closing the week over 8% gains. The NIFTY50 surged over 493 points or 2.01% closing above 25,000 mark. Similarly, the SENSEX soared 1,718 points or 2.1% to close above 81,000 threshold levels on Friday.

For this week, NIFTY 50 surged 1,885 points, and the SENSEX surged ,6,816 points, up nearly 9% for the week. Indian benchmark indices shrugged off the global market fears and bounced back strongly from early losses. NASDAQ 100 witnessed one of the steepest fall since Covid-19 crash, plunging 6.3%. At the same time, Asian benchmark indices too plunge up to 7% on Friday as selloff in the tech stocks pulled the benchmark indices like Kospi, Nikkei, Taiwan weighted lower.

On the flipside, Indian benchmark indices benefited from the “anti-AI trade” as foreign investors looked for safety and fair valuations with growth potential in a turbulent times. Foreign institutional investors have added over ₹22,700 crore in November YTD, boosting the index to over 8% in just a week’s period of time

(This ia developing story)