India's Nifty set to erase YTD losses; benchmarks extend gains

SML Mahindra

24/03/2025 08:12

March 24 (Reuters) - ** India's Nifty 50 .NSEI set to erase year-to-date losses

** Benchmark index climbs 5.6% in six sessions

** Nifty and BSE Sensex .BSESN had dropped as much as 16.4% and 15.5% this year, respectively, from their peaks in late-September.

** Signs of foreign portfolio investors (FPI) turning buyers and continued bargain buying aiding momentum, say analysts

** Volatility index .NIFVIX set for biggest intraday jump since January 6

** "While the recent rebound may signal a shift in market momentum, global uncertainties—including geopolitical tensions and tariff-related disruptions—remain key risks," says Mahendra Patil, founder and MD of MP Financial Advisory Services

** On the day, Nifty rises 1.2%, Sensex adds 1.3%

** Financials .NIFTYFIN, which have relatively high FPI-ownership, up nearly 2%; index contributes around 57% to Nifty's gains on the day

** Kotak Mahindra Bank KTKM.NS jumps nearly 5% to highest level since October 2021; appoints Bhavnish Lathia as new CTO

** SML Isuzu SMLI.NS rises 6% on reports Mahindra & Mahindra MAHM.NS in talks to buy controlling stake

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))