Sensex today | Stock Market Highlights: Sensex, Nifty snap losing streak as IT and financial stocks drive broad-based gains
Sensex, Nifty, Share Prices Highlights: Indian equities staged a broad-based rebound on Thursday, with technology and financial stocks leading gains as easing US bond-market concerns improved global risk appetite, while elevated crude prices and regulatory scrutiny kept investors cautious.
Today, the Indian stock market witnessed a broad-based rally, as the Sensex and Nifty indices ended their losing streak. The benchmark Sensex rose 628.04 points, or 0.82 per cent, to close at 77,537.72, while the Nifty 50 index gained 153.55 points, or 0.64 per cent, to reach 24,231.85.
Major sectors led the gains, with IT and financial stocks driving the broad-based increase. The IT sector saw Nifty IT stocks advance 0.8 per cent, extending its two-day rise to 1.5 per cent. Financial stocks also performed well, with Nifty financials advancing 0.7 per cent.
Several top gainers contributed to the market's bullish sentiment, including Muthoot Finance, up 3.9 per cent, Manappuram Finance, up 2.7 per cent, and Turtlemint Fintech, which saw a 4.1 per cent jump after Jefferies initiated coverage with a buy rating. HDB Financial rose 1.4 per cent after Morgan Stanley upgraded the stock to overweight.
However, not all stocks performed well. Power Finance Corp and REC fell after Morgan Stanley downgraded their stocks. Brent crude oil touched a near one-month high due to Middle East tensions, while the Indian rupee edged up 0.05 per cent to 95.7050 against the US dollar.
The market outlook remains cautiously optimistic, with global cues improving following the US Treasury's announcement of plans to double buyback sizes for long-duration debt. However, investors should remain cautious, as elevated Brent prices and regulatory scrutiny warrant a measured approach.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
