Tue Oct 08 16:31:05 UTC 2024: ## Indian Markets Surge, Buoyed by BJP Victory in Haryana

**Mumbai, October 8, 2024** – Indian stock markets experienced a significant surge on Tuesday, snapping a six-day losing streak and fueled by positive sentiment following the BJP’s better-than-expected performance in the Haryana state elections.

The benchmark Sensex gained 585 points, closing at 81,635, while the Nifty rose 217 points to 25,013. The broader markets also witnessed strong gains, with the Midcap Index jumping 1,236 points to 58,536 and the Nifty Bank Index rising 542 points to 51,021.

Adani group stocks were among the top gainers, reflecting the positive sentiment surrounding the election results. Public sector undertakings (PSUs) also received a boost, with the Nifty PSU index rising 2%.

Other notable gainers included Trent, which surged 8% following the launch of its lab-grown diamond jewelry line. BEL rose 4% after securing orders worth over ₹500 crore since September 11. Mahindra & Mahindra gained over 3% after CLSA upgraded its rating on the stock to ‘outperform’.

Despite the overall bullish sentiment, metal stocks slipped, impacted by underwhelming Chinese stimulus measures aimed at boosting the economy.

**Paytm Posts Best Single-day Gain in 8 Months**

Shares of Paytm’s parent company, One97 Communications, surged as much as 13% on Tuesday, marking its best single-day gain since February 8, 2023.

**SpiceJet to Induct 10 New Aircraft by November**

SpiceJet announced plans to bolster its fleet by inducting ten new aircraft by the end of November, reflecting a positive outlook for the airline industry.

**Hyundai Motor India IPO To Open Oct 14**

Hyundai Motor India’s initial public offering (IPO) is scheduled to open on October 14 for institutional investors and October 15-14 for retail investors.

**Several Stock Recommendations Released**

Technical analysts and brokerage firms provided several stock recommendations, including buys for Bosch, Infosys, Kaynes Technology, Natco Pharma, and Genus Power.

**Vaishali Pharma Announces Share Split and Bonus Issue**

Mumbai-based Vaishali Pharma announced a share split and bonus issue, with a record date set for October 15.

**China Rally Prompts Profit-Taking in India**

While the Chinese market rally has contributed to the Indian market’s surge, foreign investors have started taking profits off the table in India. The sustainability of China’s gains remains a concern, as some analysts anticipate a potential return to a bear market.

**CNBCTV18.com provides further updates and insights on these market developments.**

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