Indian benchmark indices, the Sensex and Nifty, are trading strong after a robust opening on Friday. The BSE Sensex surged by 1,004.72 points, or 1.27%, reaching 80,110.60, while the Nifty 50 climbed 283.20 points, or 1.17%, to trade at 24,426.95.
Analysts predict that the relief rally is likely to persist, bolstered by the bounce back in U.S. stock markets amid expectations of rate cuts following encouraging inflation data. As the first-quarter earnings season concludes, market experts anticipate a shift towards a consolidation phase.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, commented, “We expect the market to continue consolidating in the near term, taking cues from global factors.”
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