[ad_1]
The 30-share BSE benchmark Sensex advanced 335 points or 0.46% to settle at 73,097. The broader NSE Nifty gained 149 points or 0.68% to end at 22,146.
Meanwhile, the market capitalisation of all listed companies on BSE surged by Rs 7.93 lakh crore to Rs 380.1 lakh crore.
The broader, more domestically-focussed small and midcaps, rose 3.4% and 1.8%, respectively. However, they logged their worst session in two years on Wednesday and have lost over 12% and 6.5%, respectively, from their record highs on February 8.
On the sectoral front, Nifty IT rose 1.96%, led by Mphasis, HCL Tech, and Infosys. Nifty Media and Oil & Gas also closed over 2% higher. On the flip side, Nifty Bank closed in the red.
Among individual stocks, Hindustan Aeronautics surged 4.2% after the Defence Ministry signed contracts worth Rs 8,073 crore with the company for the acquisition of 34 advanced light helicopters and associated equipment for the Indian Army.The market breadth was skewed in favour of the bulls. About 2,729 stocks gained, 1,146 declined, and 83 remained unchanged on the BSE.
Expert Views
“The market was able to recover half of last trading day’s sell-off as leverage based square-off neutralised it, while institutional buying sustained the buoyancy,” said Vinod Nair, head of research, Geojit Financial Services.
“Domestic economic data wholesale price inflation (WPI) eased to four-month low at 0.2% YoY in February, bringing ease to upcoming CPI trajectory, a relief for future rate cuts. The broader market is outperforming the headline indices, taking advantage of mid and smallcap as a bargaining strategy,” he said.
Aditya Gaggar, director of Progressive Shares, said, “With a hidden bullish divergence in RSI, the index has formed a small green candle indicating a continuation of an uptrend where the downside seems to be protected at 21,920 while the higher side is capped at 22,320.”
Global Markets
Global shares hovered near record highs on Thursday, while the dollar headed for its first weekly gain in a month, ahead of a trio of US data releases that has the potential to shift the outlook for interest rates.
The MSCI All-World index was last up 0.1% at 775.12, having hit a record high of 778.13 last week.
In Europe, the STOXX 600 rose 0.26%. S&P 500 and Nasdaq futures rose 0.3% and 0.5%, respectively.
Oil Prices Climb
Oil prices climbed in early trade on Thursday, supported by strong demand in the US after gasoline stocks hit a three-month low and crude stockpiles dropped unexpectedly, with supply concerns remaining after Ukrainian attacks on Russian refineries.
Brent futures for May climbed 63 cents, or 0.70%, to $84.62 a barrel, while April U.S. West Texas Intermediate (WTI) crude rose 72 cents, or 0.92%, to $80.45 per barrel.
Rupee Ends Higher
The Indian rupee ended marginally higher on Thursday tracking rangebound price action across most of its Asian peers, while dollar-rupee forward premiums maintained their downtrend on an uptick in U.S. bond yields.
The rupee closed at 82.8175, slightly stronger from its close at 82.8625 in the previous session. The dollar index inched higher to 102.84.
(With inputs from agencies)
[ad_2]
Source link