Sensex Soars, Nifty Surges Past 24,900 – What’s Driving the Market Rally?

Описание: On May 23, benchmark indices in India staged a strong recovery, with the Sensex rising over 900 points and the Nifty surpassing the 24,900 mark. The rally was driven by positive global cues and strong buying interest in IT and FMCG stocks. Key gainers included Infosys, Tech Mahindra, HCL Technologies, ITC, and Eternal, with some rising up to 4% intraday. Asian markets such as Japan’s Nikkei and South Korea’s Kospi traded higher, while Wall Street futures also showed gains, providing support. US treasury yields fell after the House passed a significant tax and spending bill, which boosted investor sentiment. Technology shares led the gains following a bullish report by brokerage Bernstein, which highlighted strong earnings potential for IT companies like Infosys, Coforge, and Persistent Systems. Analysts also noted a technical rebound for the Nifty near its 20-day exponential moving average, with immediate support expected around 24,400–24,500 and resistance near 24,840–24,946.
#sensex #nifty50 #stockmarkettoday #indianstockmarket #itstocks #fmcgstocks #infosys #techmahindra #stockmarketnews #nseindia

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