India’s equity benchmark indices saw gains on Thursday, with the Sensex closing at the 81,000 level and the Nifty ending above 24,800. The rise was supported by buying in commodity, telecom, and consumer stocks, alongside a firm trend in global markets.
The 30-share BSE Sensex increased by 147.89 points, or 0.18%, to close at 81,053.19, marking its third consecutive day of gains. The index reached an intra-day high of 81,236.45, up by 331.15 points at its peak.
The NSE Nifty extended its winning streak to six sessions, rising by 41.30 points, or 0.17%, to finish at 24,811.50.
Bharti Airtel was the top performer in the Sensex pack, rising 1.63%, followed by Tata Steel, ICICI Bank, Titan, Asian Paints, and Ultratech Cements. Conversely, M&M, NTPC, Tata Motors, TCS, and PowerGrid were among the major decliners.
Vinod Nair, Head of Research at Geojit Financial Services, attributed the domestic market's modest gains to positive global sentiment, noting that recent signs of weakness in US non-farm payroll data have bolstered expectations for potential interest rate cuts in September.
Asian markets saw mixed results, with Tokyo, Seoul, and Hong Kong closing higher, while Shanghai ended in negative territory. European markets were trading significantly higher in mid-session deals, and US stock markets had gained in overnight trade on Wednesday.
Foreign Institutional Investors (FIIs) were net sellers on Wednesday, offloading equities worth ₹799.74 crore, according to exchange data.
Global oil benchmark Brent crude rose 0.21% to USD 76.21 per barrel. On Wednesday, the Sensex had risen by 102.44 points to close at 80,905.30, while the Nifty had increased by 71.35 points to end at 24,770.20.
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