Sentence Correction (SC) | According to some analysts, the gains in the stock market reflect grow

But isnt it wrong to use 'ínstead' before a clause?

Usage of "instead of" is restricted to nouns, whereas usage of "rather than" is more flexible. "Rather than" can be used with nouns or verbs / infinitives /participles. The reason is that "instead of" ends with the preposition "of" and hence requires a noun.

hisayantanc2k
I am also confused about the usage rather and instead of here.
If instead is used with noun, isn't it wrong in option