Markets rally as global sentiment improves; Sensex, Nifty rise 1.2%

Both foreign portfolio investors (FPIs) as well as domestic institutions were net buyers on Thursday

Indian markets gained on Thursday, along with global peers, as investor sentiment improved on optimism that the Covid-19 situation in China may not be as bad as feared. Investors also cheered strong earnings from Meta Platforms, leading to a bounce in technology stocks. Back home, solid numbers posted by Hindustan Unilever (HUL) triggered a surge in consumer goods stocks.

The Sensex rose 702 points, or 1.2 per cent, to close at 57,521, while the Nifty50 index ended at 17,245 with a gain of 206 points. Heavyweights like Reliance Industries (RIL), HUL, Infosys, and ICICI Bank accounted for the bulk of the