Benchmark indices closed sharply higher on the weekly expiry day, extending their winning streak for the fourth consecutive session amid firm global cues. The Sensex gained 900 points, or 1.19%, surpassing the 76,000-mark and ending the day at 76,348.06. The Nifty also rose 283.05 points, or 1.24%, closing just a few points below the 23,200-mark at 23,190.65.
Bullish market sentiment emerged after the US Federal Reserve maintained its projection of two rate cuts for 2025, despite inflationary pressures following US President Donald Trump’s tariffs on trade partners. “The dovish stance of the US Federal Reserve, which kept interest rates unchanged, provided relief to global markets and set the stage for a strong opening in the domestic market,” said Ajit Mishra, senior vice president, research, Religare Broking.
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Initially, the Nifty traded within a narrow range, but robust buying across sectors, coupled with short covering on the weekly expiry day, fuelled further gain, he added. Over the past four sessions, the Sensex has gained over 2,500 points, or 3.41%, while the Nifty has risen nearly 800 points, or 3.54%. India VIX fell 5.22% to 12.60 on Thursday, suggesting that market volatility has cooled off.
Investors’ wealth surged by Rs 3.61 lakh crore on Thursday and by Rs 17.44 lakh crore over the past four sessions, owing to broad-based buying of shares. Interestingly, in Thursday’s session, domestic institutional investors turned net sellers after 29 trading sessions, offloading shares worth Rs 3,136.02 crore, while foreign portfolio investors became net buyers, purchasing shares worth Rs 3,239.14 crore, according to provisional data from the BSE.
The broader market indices, BSE Midcap and BSE Smallcap, rose 0.61% and 0.73%, respectively, but they underperformed the benchmarks on Thursday, in contrast to their outperformance in the previous two sessions. Over the past four sessions, the BSE Midcap index has gained 5.88%, while the BSE Smallcap index has risen 5.73%.
Overall market breadth remained positive, with 2,410 gainers against 1,606 losers.
All sectoral indices on the BSE and NSE ended in the green, with telecom, auto, IT, oil & gas, and energy shares leading the gains.
Over the past four trading sessions, the realty sector emerged as the top gainer,
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