Due to inflow of foreign funds and increased buying in shares of information technology (IT) and telecom companies, both the major indices of the domestic stock market closed with gains for the fourth consecutive trading day on Thursday. According to analysts, heavy buying in major companies like Infosys and Reliance Industries supported the business sentiment.
BSE’s 30-share Sensex climbed 348.80 points, or 0.58 percent, to close at 60,649.38 points. At one time it had jumped up to 397.73 points during the trading. The benchmark index Nifty of the National Stock Exchange (NSE) also gained 101.45 points, or 0.57 percent, to reach 17,915.05 points.
Among the Sensex companies, Bajaj Finance, Bajaj Finserv, Infosys, Bharti Airtel, Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, ITC, Tech Mahindra, Tata Steel, Tata Motors, Titan, Reliance Industries and Nestle were among the gainers. .
On the other hand, Hindustan Unilever, Power Grid, Axis Bank, Tata Consultancy Services, State Bank of India, Asian Paints and Wipro ended with losses. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng registered gains.
Europe’s markets were trading in a positive direction in the afternoon session. US markets had closed largely down on Wednesday.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Domestic markets are slowly moving in a positive direction. It is being strengthened by increasing capital inflow of foreign investors and positive quarterly results. However, the monetary policy of the US Federal Reserve coming next week will be closely watched.
Meanwhile, international oil benchmark Brent crude climbed 0.40 per cent to $78.07 per barrel.
Foreign institutional investors have once again proved to be buyers. According to data from the exchange, foreign investors made net purchases of shares worth Rs 1,257.48 crore on Wednesday.
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