Indian equity markets ended Thursday’s session on a positive note, overcoming early volatility to extend their winning streak for a fifth consecutive day. Investor sentiment remained supported by falling crude oil prices and optimism surrounding global developments, even as concerns over the US Federal Reserve’s hawkish stance weighed on technology stocks.
The BSE Sensex closed 254 points higher at 77,409.98, while the NSE Nifty50 settled above the crucial 24,150 mark at around 24,168, posting gains of nearly 0.3%. The benchmarks had opened on a cautious note and briefly slipped into the red before recovering strongly in afternoon trade.
Among the day’s top performers were Trent, InterGlobe Aviation (IndiGo), select PSU banks and realty stocks, which attracted strong buying interest. Broader markets also remained firm, with mid-cap and small-cap indices advancing alongside the benchmarks.
On the losing side, IT stocks faced pressure after the US Federal Reserve signalled the possibility of further rate hikes. Major technology counters including Infosys, TCS, HCLTech and other IT shares witnessed selling, dragging the Nifty IT index lower by more than 1%.
Market participants said easing crude oil prices continued to provide support to domestic equities. The recent US-Iran agreement helped calm energy market concerns, pushing oil prices lower and improving the outlook for India’s inflation and import bill.
Banking and financial stocks also contributed to the market’s resilience. Investors remained encouraged by progress toward the National Stock Exchange’s proposed IPO and positive developments across several corporate counters.
With foreign and domestic investors continuing to monitor global interest rates, crude oil movements and monsoon progress, traders expect market sentiment to remain stock-specific in the near term. For now, Dalal Street appears to have maintained its momentum, ending another session firmly in the green.
Analysts noted that despite global uncertainties, domestic markets have shown remarkable strength over the past week. Technical indicators suggest that the Nifty remains in a positive trend as long as it holds above key support levels.
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