MUMBAI: Benchmark stock index Sensex surged nearly 610 points to reclaim the 74,000 mark, while Nifty closed above 22,500 for the second straight session of gains on Thursday, driven by strong buying in Reliance Industries following easing crude oil prices.
Recovering from early losses, the 30-share BSE Sensex jumped 609.86 points or 0.83 per cent to settle at 74,340.09. During the session, it touched an intraday high of 74,390.80, rising 660.57 points or 0.89 per cent.
The broader Nifty advanced 207.40 points or 0.93 per cent to close at 22,544.70, having touched a high of 22,556.45, up 219.15 points or 0.98 per cent.
Among Sensex gainers were Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services (TCS), Titan, and Bajaj Finance. On the other hand, Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank ended in the red.
The Indian indices exhibited resilience, driven by positive global cues after Trump softened his tariff stance on automakers from Canada and Mexico, alongside a weakening dollar index
Crude correction
A correction in crude oil prices, influenced by slowing demand and additional economic stimulus from China, boosted optimism in the energy and metals sectors.
Broader markets also posted gains, with the BSE smallcap index rising 1.63 per cent and the midcap index climbing 0.65 per cent.
Among BSE sectoral indices, energy, metal, oil & gas, commodities, utilities, services, power, healthcare, FMCG, and industrials were the top performers. Telecommunications and realty were the only laggards.
Market breadth remained strong, with 3,007 stocks advancing, 989 declining, and 107 remaining unchanged on the BSE.
Asian markets ended higher, with gains in Tokyo, Shanghai, Hong Kong, and Seoul. European stocks traded mixed in mid-session deals, while Wall Street closed on a positive note on Wednesday.
Brent crude, the global oil benchmark, rose 0.52 per cent to $69.66 per barrel.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs2,895.04 crore on Wednesday, according to exchange data.
On Wednesday, the BSE Sensex had surged 740.30 points to close at 73,730.23, snapping its 10-day losing streak. The Nifty rebounded 254.65 points to settle at 22,337.30.
