Sensex, Nifty Extend Gains For Second Day, Rise 0.14% As Crude Oil Slips Below $73

Mumbai: Indian benchmark equity indices ended slightly higher on Thursday, marking their second straight day of gains, as lower crude oil prices and strong global market trends lifted investor sentiment.

However, profit booking in the second half reduced most of the day’s gains.

Market Performance

The BSE Sensex rose 109.25 points, or 0.14 percent, to close at 77,100.47.

The index opened in the green and surged as much as 811.96 points, or nearly 1 percent, to touch an intraday high of 77,803.18.

But selling pressure in select sectors pulled the index lower before closing.

The NSE Nifty 50 gained 34.35 points, or 0.14 percent, to settle at 24,056.

During the day, Nifty touched a high of 24,261.60 and a low of 24,039.

Sector Movement

Among Sensex stocks, InterGlobe Aviation (IndiGo parent) emerged as the top gainer, rising 4.82 percent.

Other major gainers included Mahindra & Mahindra, Maruti Suzuki, State Bank of India, ICICI Bank, and Hindustan Unilever.

On the losing side, Power Grid, Bharat Electronics, Tech Mahindra, Infosys, and Bharti Airtel ended lower.

Auto stocks performed strongly during the session, supported by softer metal prices and improving retail demand.

Global Support

Market experts said falling crude oil prices offered relief to investors by easing inflation concerns and supporting the rupee.

Brent crude fell 1.26 percent to USD 72.81 per barrel, improving overall sentiment.

Asian markets largely traded higher. South Korea’s Kospi surged 5.42 percent, while Japan’s Nikkei 225 climbed 4.61 percent.

European markets were also trading in positive territory.

Investor Watch

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,843.40 crore on Wednesday.

Investors will now track global cues and commodity prices closely. Indian stock markets will remain closed on Friday on account of Muharram.