Indian stock markets extended their winning streak on Thursday, with both the Sensex and Nifty closing over 1 per cent higher, buoyed by broad-based buying across sectors.
The rally came on the back of global cues after the US Federal Reserve kept interest rates unchanged. The Fed maintained its policy rate in the 4.25 per cent to 4.50 per cent range but signalled a potential half-percentage-point cut by the end of the year, boosting investor sentiment worldwide.
The Sensex ended the session at 76,348.06, up by 899 points or 1.19 per cent. During the day, it fluctuated between 76,456.25 and 75,684.58.
Similarly, the Nifty surged 283 points or 1.24 per cent, closing at 23,190.65. It touched an intra-day high of 23,216.70 and a low of 22,973.95.
Market sentiment remained bullish, with 44 out of the 50 Nifty stocks ending in positive territory.
Top gainers included Bharti Airtel, Titan, Britannia, Eicher Motors, and Bajaj Auto, each registering gains of up to 4.08 per cent.
On the downside, stocks like IndusInd Bank, Trent, Shriram Finance, and Bajaj Finance closed lower, while UltraTech Cement and Axis Bank ended flat.
Broader market indices also witnessed strong performance. The Nifty Midcap100 index rose by 0.64 per cent, while the Nifty Smallcap100 index advanced by 0.70 per cent.
All sectoral indices on the NSE closed in the green. Notably, sectors such as IT, Auto, FMCG, Metal, Media, Realty, Oil & Gas, Consumer Durables, and Healthcare recorded gains of over 1 per cent each.
The positive momentum in global indices further supported domestic markets.
According to market experts, the primary driver behind today’s rally was the US Federal Reserve’s dovish stance, maintaining rates while signalling potential cuts, which boosted confidence across global markets.
The Indian rupee also strengthened, closing at 86.36 against the US dollar, compared to the previous close of 86.44.
Sundar Kewat from Ashika Institutional Equity said that sectoral performance remained broadly positive, with Oil & Gas, Consumption, IT, Automobiles, and Consumer Goods sectors leading the gains. He added that the strong performance in the Nifty Midcap100 and Smallcap indices reflected robust buying interest across the broader market.
–IANS