Benchmark equity indices Sensex and Nifty ended marginally higher on Thursday, extending their gains for a second straight session as easing crude oil prices and strong cues from global markets lifted investor sentiment.
The 30-share BSE Sensex closed 109.25 points, or 0.14 per cent, higher at 77,100.47. Despite the positive finish, the broader index witnessed mixed participation, with 19 constituent stocks ending in the red and 11 advancing. The benchmark opened on a firm note and rallied sharply during the first half, climbing as much as 811.96 points, or 1 per cent, to touch an intraday high of 77,803.18. However, selling pressure in information technology and metal stocks during the latter half of the session erased most of the gains.
The broader NSE Nifty also finished higher, gaining 34.35 points, or 0.14 per cent, to settle at 24,056. During the session, the index touched a high of 24,261.60 and slipped to a low of 24,039 before ending with modest gains.
Among Sensex constituents, InterGlobe Aviation, the parent company of IndiGo, emerged as the top performer, surging 4.82 per cent. Other major gainers included Mahindra & Mahindra, Maruti Suzuki, State Bank of India, ICICI Bank and Hindustan Unilever.
On the downside, Power Grid Corporation, Bharat Electronics, Tech Mahindra, Infosys and Bharti Airtel were among the notable laggards. According to Vinod Nair, Head of Research at Geojit Investments Limited, the domestic market ended largely flat as early gains were offset by profit-booking activity.
"The domestic market concluded the day on a subdued note after witnessing strong gains in the opening session. Although a sharp decline in crude oil prices supported the rupee and provided some relief to investors, it was not enough to sustain the market's upward momentum throughout the day," Nair said.
Also read: Crude oil prices drop by 8 pc in a week
He further noted that automobile stocks outperformed the broader market, benefiting from lower metal prices, easing supply-chain pressures and improving retail demand trends during the month.
Meanwhile, Brent crude, the international benchmark for oil prices, declined 1.26 per cent to USD 72.81 per barrel, offering support to market sentiment in import-dependent economies such as India.
Across Asia, market performance remained largely positive. South Korea's Kospi surged 5.42 per cent, while Japan's Nikkei 225 advanced 4.61 per cent.
China's Shanghai Composite index ended marginally higher, whereas Hong Kong's Hang Seng index settled in negative territory.
European markets were trading with gains during the session, while US equities had ended the previous trading day on a relatively muted note. Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 1,843.40 crore on Wednesday, according to exchange data.
In the previous session on Wednesday, the Sensex had rallied 790.54 points, or 1.04 per cent, to close at 76,991.22, while the Nifty had climbed 197.55 points, or 0.83 per cent, to settle at 24,021.65.
Indian stock exchanges will remain closed on Friday in observance of Muharram.
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