Mumbai good purchasing in banking shares helped the domestic indexes record a good performance, and Indian stock markets closed Thursday’s trading session significantly higher, continuing their winning streak for the fourth consecutive day.

On April 17, the Sensex, which is commemorating its 150th anniversary, began the day marginally down at 76,968 and fell to its lowest point of the day at 76,666. But the index quickly recovered well, reaching an intra-day high of 78,617, which was 1,951 points higher than the low.

There was also a notable recovery in the Nifty index. The Nifty jumped to a high of 23,872 after plunging to an intra-day low of 23,299. At 23,852, up 1.8%, it ultimately ended the day 414 points higher.

Bharti Airtel, ICICI Bank, Bajaj Finance, Sun Pharma, and Eternal were among the top Nifty performances.

However, equities that witnessed some profit booking and closed in the negative were Wipro, Hero MotoCorp, Tech Mahindra, and JSW Steel.

There was purchasing interest in every major area. Industries that had gains of 1% to 2% included telecom, PSU banks, oil and gas, pharmaceuticals, automotive, energy, and private banks.

The BSE Midcap and Smallcap indexes each added around 0.5%, reflecting the stability of the overall market.

The rebound is backed by widespread participation, particularly from large-cap names and banking and financial equities, suggesting that it is more than just a temporary reversal, according to Ruchit Jain, Vice President of Technical Research at Motilal Oswal.

Jain went on to say, “The Bank Nifty index is currently trading near its all-time high, reflecting strong sectoral support.”

The Indian rupee, however, saw some strength. Compared to Wednesday’s finish of 85.68, it ended the day 31 paise higher at 85.37 versus the US dollar.

Experts pointed out that “strong buying in heavyweight stocks and hopes of economic stability drove upbeat sentiment domestically despite global concerns.”