Sensex surges 329 points on pharma and banking gains, foreign inflows

The Indian benchmark Sensex rose 329 points on Friday, driven by gains in pharmaceutical and banking shares, as well as foreign fund inflows. The 30-share BSE Sensex jumped 328.72 points or 0.40% to close at 82,500.82. The 50-share NSE Nifty advanced by 103.55 points or 0.41% to settle at 25,285.35. State Bank of India, Maruti Suzuki India, and Sun Pharmaceuticals were among the major gainers, while Tata Steel and Tata Consultancy Services were among the laggards.

The Indian benchmark Sensex rose 329 points on Friday, driven by gains in pharmaceutical and banking shares, as well as foreign fund inflows. The 30-share BSE Sensex jumped 328.72 points or 0.40% to close at 82,500.82. The 50-share NSE Nifty advanced by 103.55 points or 0.41% to settle at 25,285.35. State Bank of India, Maruti Suzuki India, and Sun Pharmaceuticals were among the major gainers, while Tata Steel and Tata Consultancy Services were among the laggards.

Separately, Hong Kong and Shanghai Banking Corp Ltd (HSBC) has committed $1 billion to fund startups through loans in India under its innovation banking platform. This initiative, following the UK Silicon Valley Bank acquisition, marks India as the 13th market with a dedicated startup program HSBC commits $1 billion to fund Indian start-ups under innovation banking platform^[1]. The bank will offer short-term working capital and term loans to startups, leveraging its balance sheet to support the country's dynamic startup ecosystem.

Meanwhile, the UK celebrated 64 Indian investment projects totaling 1.3 billion pounds, which are expected to create 6,900 new jobs across the UK. These deals, announced during PM Keir Starmer's Mumbai visit, span sectors such as electric vehicles, semiconductors, agri-tech, and AI. The investments demonstrate the impact of the UK-India Free Trade Agreement (FTA) on investor confidence and economic growth UK celebrates 6,900 new jobs from Indian cross-sector investments^[2].

The Sensex's rise reflects the broader economic momentum in India, bolstered by strategic partnerships and investments. The combination of HSBC's funding commitment and the UK-India trade deal signals a robust pipeline for future growth and innovation.