On Thursday, the Nifty gained 1.7% to close at 22,997, while the Sensex surged 2.1% to 74,140. Analysts say Indian equities are likely to consolidate within a broader range in the near term, with intermittent recoveries and bounds of selling pressure. The Nifty’s move back above 23,000 has improved domestic sentiment, while resilient domestic demand, strong tax collections and the ongoing Q2 earnings season provide a positive backdrop.
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