Benchmark equity indices Sensex and Nifty extended their winning streak for a fifth consecutive session on Thursday, ending higher amid positive global cues, easing crude oil prices and optimism over geopolitical developments.
The 30-share BSE Sensex advanced 254.36 points, or 0.33 per cent, to close at 77,409.98. The index witnessed considerable volatility during the session, touching an intraday high of 77,492.33 and a low of 76,953, reflecting a swing of more than 539 points. The broader NSE Nifty also finished in the green, gaining 82.30 points, or 0.34 per cent, to settle at 24,168.
Among the Sensex constituents, InterGlobe Aviation, Trent, Bharat Electronics, NTPC, State Bank of India and HDFC Bank emerged as the top gainers. On the other hand, Infosys, Tech Mahindra, Maruti Suzuki and Tata Consultancy Services were among the major losers.
Global crude oil prices continued to soften, with Brent crude, the international benchmark, falling 2.23 per cent to USD 77.78 per barrel, offering relief to investors concerned about inflationary pressures.
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Market sentiment was further supported after US President Donald Trump signed a Memorandum of Understanding (MoU) with Iran during a dinner at the Palace of Versailles in France on Wednesday, aimed at bringing an end to the conflict that had persisted for more than three months.
Commenting on market trends, Vinod Nair, Head of Research at Geojit Investments Ltd, said domestic equities traded in a narrow range with a positive undertone. He noted that optimism stemming from the US-Iran peace agreement was partially offset by hawkish comments from the US Federal Reserve.
According to Nair, rising energy-related inflation could compel central banks to consider interest rate hikes later in the year, prompting investors to remain cautious. However, he added that the continued decline in crude oil prices and easing Indian bond yields could help mitigate inflation concerns in the latter half of FY27. Investors, he said, are closely monitoring further developments related to the peace agreement.
In Asia, South Korea's Kospi and Japan's Nikkei 225 posted strong gains, while China's Shanghai SSE Composite and Hong Kong's Hang Seng ended lower.
European markets were trading mixed during the session, while US equities had closed in negative territory on Wednesday.
Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities worth Rs 101.59 crore on Wednesday, according to exchange data. In the previous session, the Sensex had surged 347.14 points, or 0.45 per cent, to settle at 77,155.62, while the Nifty gained 96.55 points, or 0.40 per cent, to close at 24,085.70.
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