India, May 17 : Indian equity markets closed higher on May 16 after strong buying activity in banking, information technology and infrastructure stocks boosted investor confidence.
Market analysts said positive corporate earnings and expectations of healthy economic growth supported the rally. Banking stocks led gains following improved quarterly financial results and rising credit growth projections.
Technology companies also witnessed strong investor interest amid increasing global demand for AI-based services and cloud computing solutions.
Experts believe domestic markets continue to benefit from stable inflation trends and improving foreign investment sentiment.