Indian stock markets witnessed a strong rally in Thursday’s trading session, which happens to be also the last trading session for the week, month and the financial year. The Sensex surged 900 points higher while Nifty50 topped the 22,400 mark.

The combined market capitalisation of all listed stocks on BSE jumped by Rs 2.74 lakh crore to Rs 386.38 lakh crore.

In the process, the benchmark indices were up 2 per cent for the month, and having gained as much as 29 per cent in the fiscal year 2023-24.

Back to the day’s action, analysts attribute today’s rally to the stong domestic inflows coupled with short-covering by foreign investors. DIIs have reportedly net bought stocks worth Rs 24,700 crore in the last seven trading sessions.

Wall Street equities closed higher overnight, ahead of a key inflation reading later this week. The Dow Jones Industrial Average rose 1.22%, the S&P 500 gained 0.86% and the Nasdaq Composite gained 0.51%.

Asian shares were mixed on Thursday. Chinese markets recouped losses from the day before. Hong Kong’s Hang Seng index gained 1.1% to 16,579.99, while the Shanghai Composite advanced 1.2% to 3,029.01. Australia’s S&P/ASX 200 jumped 0.9% to 7,887.00. Taiwan’s Taiex was little changed. In Tokyo, the Nikkei 225 lost 1.2% to 40,283.44.