India Posts First Quarterly Current Account Surplus in Year Amid Market Gains

Global and Indian stock markets demonstrated robust performance amid geopolitical tensions and positive economic indicators. Despite initial concerns over U.S. involvement in the Israel-Iran conflict, Wall Street's S&P 500 and Nasdaq reached record highs, supported by falling energy prices and strong investor confidence. In India, the Sensex gained 2% over five trading sessions, with midcap stocks showing consistent gains, reflecting a broad market uptrend. India's current account surplus of USD 13.5 billion in Q4 FY25, driven by record services exports and remittances, marked a significant economic milestone, narrowing the fiscal year deficit and enhancing macroeconomic stability. This improved economic backdrop underpinned strong investor enthusiasm for IPOs, with companies like HDB Financial Services and Sambhv Steel Tubes receiving substantial oversubscriptions, signaling bullish sentiment across sectors. Market analysts recommend a "buy on dips" strategy for Indian indices like Nifty and Bank Nifty, anticipating continued upward momentum supported by technical and fundamental factors.