Sensex Snaps 4-Day Losing Run, Climbs 428 Points, Nifty Settles Above 16,450

Sensex and Nifty closed strongly today.

New Delhi:

Indian equity benchmarks closed higher in trade witnessed on Thursday, marking their four consecutive session low. Domestic indices turned positive on gains in energy, pharma and technology stocks. Index heavyweight Reliance Industries also supported the surprise rally.

The 30-share BSE Sensex closed 428 points or 0.78 per cent higher at 55,320 today, while the broader NSE Nifty closed 122 points or 0.74 per cent higher at 16,478.

Mid- and small-cap stocks ended on a strong note as Nifty Midcap 100 rose 0.49 per cent and small-cap rose 0.21 per cent.

Of the 15 sector gauges, 13 – compiled by the National Stock Exchange – settled in the green. Sub-indices Nifty Oil & Gas, Nifty Pharma and Nifty IT outperformed the platform with gains of 1.96 per cent, 1.20 per cent and 0.98 per cent, respectively.

On the stock-specific front, Dr Reddy’s was the top gainer in Nifty as the stock rose 3 per cent to Rs 4,324.95. BPCL, Reliance Industries, Eicher Motors and Bajaj Auto were also gainers.

Overall market breadth remained positive as 1,750 shares advanced while 1,550 declined on BSE.

Reliance, Dr Reddy’s, Bharti Airtel, Tech Mahindra, Sun Pharma, Kotak Mahindra Bank, Wipro, ITC, Infosys, HDFC Bank, TCS and IndusInd Bank were the top gainers in the 30-share index on BSE.

In contrast, Tata Steel, UltraTech Cement, NTPC, Bajaj Finance, SBI, Asian Paints, HCL Tech, Bajaj Finserv and Mahindra & Mahindra were in the red.

Also, the shares of Life Insurance Corporation of India (LIC), the country’s largest insurer and largest domestic financial investor, fell to a new intraday low of Rs 720.05. The stock finally closed at Rs 721.95, down 2.17 per cent.

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