MUMBAI: Equity benchmarks rallied sharply on Thursday with the BSE Sensex climbing over 1,200 points and the NSE Nifty closing above the 25,000 mark for the first time in seven months, buoyed by broad-based buying and renewed foreign fund inflows.
Extending gains for the second straight session, the 30-share Sensex jumped 1,200.18 points or 1.48 per cent to end at a seven-month high of 82,530.74, with 29 of its constituents closing in the green.
After a muted first half, Sensex gained momentum in the afternoon, led by strong gains in banking, auto, IT, and oil & gas stocks. It touched an intraday high of 82,718.14, rallying 1,387.58 points or 1.70 per cent.
The Nifty surged 395.20 points or 1.60 per cent to close at 25,062.10, crossing the 25,000 mark for the first time since October 15, 2024.
Among Sensex constituents, Tata Motors was the top gainer, rising over 4 per cent. Other major gainers included HCL Tech, Adani Ports, Eicher Motors, Maruti, Reliance Industries, and Asian Paints. HDFC Bank, ICICI Bank, Bharti Airtel, and Infosys also contributed to the rally. IndusInd Bank was the sole laggard.
All sectoral indices up
Broader markets ended in the green, with the BSE smallcap index gaining 0.94 per cent and the midcap index advancing 0.67 per cent.
All sectoral indices ended higher. Realty rose 1.87 per cent, followed by auto (1.86 per cent), services (1.85 per cent), industrials (1.62 per cent), metal (1.60 per cent), consumer discretionary (1.57 per cent), and commodities (1.51 per cent).
Asian markets were largely subdued, with South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite, and Hong Kong’s Hang Seng closing lower.
European markets were trading mixed in early deals, while US markets ended on a mixed note on Wednesday.
Brent crude, the global oil benchmark, declined 3.65 per cent to $63.68 a barrel.
Foreign Institutional Investors (FIIs) were net buyers on Wednesday, purchasing equities worth Rs931.80 crore, according to exchange data.
On Wednesday, the Sensex had gained 182.34 points or 0.22 per cent to close at 81,330.56, while the Nifty rose 88.55 points or 0.36 per cent to settle at 24,666.90.
