Indian Markets Gain Despite Global Uncertainty

The Indian stock market recovered from a three-week losing streak, with the BSE Sensex gaining 1,134.48 points (1.54%) to close at 74,332.58 and the NSE Nifty rising 427.80 points (1.93%) to finish at 22,552.50. Analysts noted a significant build-up in call and put open interest (OI), indicating market positioning ahead of potential volatility due to global uncertainties. Dhirender Singh Bisht from SMC Global Securities pointed out that while there was marginal put writing at the 22,500 strike, call writers were shifting at the 22,800 strike, reflecting a cautious yet positive market sentiment. Despite foreign institutional investors (FIIs) continuing to sell equities, domestic institutional investors (DIIs) supported the market with significant purchases. Investors remain wary of global factors and are closely monitoring upcoming corporate earnings for signs of recovery in foreign investor sentiment. The Indian rupee also strengthened against the dollar, indicating a positive week for the currency markets.