Equities roar back on NDA's ascent, banks & FMCG lead surge

Today, the domestic stock market rebounded strongly, recovering most of the losses from the previous day. Boosted by expectations of a stable government under the NDA, the Nifty crossed 22,600 points, with financials, autos, and FMCG leading the rally. However, analysts warn of ongoing volatility until the new cabinet is formed. \r

Despite short-term fluctuations, the long-term outlook for Indian equities remains positive. The S&P BSE Sensex surged 3.20% to 74,382.24, while the Nifty 50 jumped 3.36% to 22,620.35. Adani Ports & SEZ, HDFC Bank, and ICICI Bank were major contributors. \r

The broader market also saw significant gains, with the S&P BSE Mid-Cap index rising 4.41% and the Small-Cap index adding 2.93%.