D-St indices surge nearly 2%, erasing year’s losses; foreigners return
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India's stock benchmarks surged as much as 2% on Thursday as traders, albeit wary of Donald Trump's tariff flip-flops, cut some of their bearish bets ahead of a long weekend. This, coupled with renewed purchases by overseas investors, eased frayed nerves, helping indices post their best weekly gains in four years. With this spike, the indices erased losses made in the year to date. Exchanges will be shut for trading on Good Friday. The NSE Nifty rose 414.45 points, or 1.8%, to close at 23,851.65. The BSE Sensex rose 1,508.91 points, or 2%, to end at 78,553.2. Both indices are up 4.5% in the shortened three-day trading week, their best weekly performance since February 2021-Monday had been closed for Ambedkar Jayanti. Banks led gains on Thursday with ICICI rising 3.7%, SBI advancing 3.3% and Kotak Mahindra moving up 3%. Elsewhere in Asia, Japan rose 1.4%, China advanced 0.1%, Hong Kong was up 1.6%, and South Korea gained 0.9%. Taiw...