Economy
Indian Equities Break Eight-Week Losing Streak Amid Rising Oil and Rate Hike
Livemint1h
THE BRIEF
1
Indian equities halted an eight-week losing streak as the Nifty 50 rose 1.30% to 22,520.45 and the Sensex gained 1.23% to 72,472.33 in Friday's session.
2
The relief rally followed the Reserve Bank of India raising the repo rate by 25 basis points to 5.50% and upgrading its FY27 growth forecast to 7.1%.
3
Market sentiment remained cautious as crude oil climbed past $100 a barrel and persistent headwinds from foreign selling weighed on recovery prospects.