Markets End Week on High: Sensex jumps nearly 1,300 points and Nifty closes at 25,285, driven by positive geopolitical cues. FIIs turn buyers for the third straight day, boosting market sentiment.

Banking stocks - major Sensex gainers

The stocks of SBI, Maruti, Axis Bank, NTPC, Adani Ports, Sun Pharma, Eternal, Power Grid, ITC, Ultra Cement, BEL, Trent were among the major gainers on the Sensex.

Nifty Metal gains 0.91%

In the sectoral front, all the major indices except Metal and IT closed with gains.

Sensex gains nearly 1,300 points this week

The 30 constituent index ended the week positively, rising by nearly 1,300 points.

Reasons behind surge in stock prices

·         Trump claims Israel & Hamas sign off on peace deal's 1st phase:

The US President Donald Trump has claimed that Israel and Hamas have signed off on the first phase of America's peace deal. Investors have taken this as a sign of easing geopolitical conditions.

·         FIIs turn net buyers

After being net sellers of Indian equities for the last three months straight, the FIIs turned net buyers of Indian equities for the last 3 days straight.

Other Asian markets mostly lower

·         In Asian markets, Hong Kong's Hang Seng index, Tokyo's Nikkei 225 index, and Shanghai's SSE Composite index dripped lower while Seoul's Kospi marched in the positive territory.

·         On 09 October, America's Dow Jones closed down 0.52% at 46,358. The Nasdaq Composite fell 0.081%. The S&P 500 dripped 0.28% to 6,735.

FIIs - net buyers of Indian equities for last 3 days straight

·         On October 09, the overseas investors bought equities worth ₹1,308.16 crore. Additionally, Domestic investors (DIIs) lapped up shares worth ₹864.36 crore.

·         FIIs had sold equities worth ₹23,885 crore in September

·         In the month of August, the overseas investors had offloaded Indian equities worth ₹34,993 crore (highest in the preceding seven months.)

·         In the month of July, the foreign investors were net sellers of domestic shares worth a total of ₹17,741 crore.