Indian equity markets staged a decisive recovery on Thursday, with the Nifty 50 index reclaiming the 24,000 level.
The benchmark had slipped below this psychological threshold the previous day, but sentiment rebounded sharply as investors digested positive global cues.
The rally was broad-based, driven by a combination of falling energy costs and renewed confidence in the semiconductor sector.
The primary catalyst was a strong earnings report from US chipmaker Micron Technology.
The results helped allay growing market concerns regarding the sustainability of artificial intelligence spending.
By demonstrating robust demand and financial health, Micron’s performance provided a tangible counter-narrative to fears of a slowdown in AI-related capital expenditure.