Markets soar over 1.5% as Adani Group concerns ease; bank stocks lead

Sensex, Nifty log best single-day gains in nearly 4 months

India’s benchmark indices recorded their best day in nearly four months on Friday, a day after a $1.87-billion (Rs 15,446-crore) investment by US-based boutique investment firm GQG Partners in four Adani companies assuaged investor concerns.

Supportive global cues on the back of positive economic data and less hawkish Fed statements, and value buying following a decline in the market in nine of the previous 10 trading sessions, also aided the rally, with banking stocks leading the gains.

The Sensex surged 900 points, or 1.53 per cent, to close the session at 59,809, while the Nifty50 index settled at 17, 594, with a