Sensex rises 359 points amid positive global cues; Nifty settles at 15,738

NEW DELHI: Equity indices surged on Thursday with the benchmark BSE sensex rising over 350 points led by gains in banking, financial and realty stocks amid positive global cues.
The 30-share BSE sensex rose 359 points or 0.69 per cent to close at 52,300; while the broader NSE Nifty settled 102 points or 0.65 per cent to lower at 15,738.
Top gainers in the sensex pack included Bajaj Finance, Bajaj Finserv, SBI, IndusInd Bank, Dr Reddy’s and Tech Mahindra with their shares rising as much as 7.69 per cent.
Bajaj Auto, Maruti, HCL Tech, Ultra Cemco and PowerGRid were the major losers falling up to 0.91 per cent.
On the NSE platform, sub-indices Nifty Realty, Media, PSU Bank and Financial Services gained as much as 4.64 per cent.
“Domestic equities look to be good as of now. Previous session’s selling pressure was due to profit booking ahead of crucial US CPI data and European Central Bank (ECB) policy meeting outcome,” Binod Modi Head-Strategy at Reliance Securities told news agency PTI.
“While sharp drop in daily caseload and phased withdrawal of business curbs by the states have significantly improved prospects of economic recovery, the government’s decision to increase MSPs for several Kharif crops is a sensible move to enhance rural income,” he noted.
Globally, investors are eying US inflation data to gauge its central bank’s stance on trimming stimulus measures.
“Globally, stock market action in the next couple of days is likely to be decided by the US inflation data to be released today.” V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency Reuters.
The data could offer clues on when the Federal Reserve might tighten its dovish monetary policy, which could ultimately impact foreign fund flows into emerging markets such as India.
Meanwhile, on the domestic front, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 846.37 crore on Wednesday, as per provisional exchange data.
(With inputs from agencies)

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