Mumbai, India (BBN) – Domestic shares rose on Thursday, snapping a three-day losing streak as investors saw some of the losses in the previous sessions in sectors such as financials as overdone, with the sentiment also boosted by higher global markets.
The broader NSE index ended 55.85 points or 0.62 per cent higher at 9,086.30, while the benchmark BSE index also closed 164.48 points or 0.56 per cent higher at 29,332.16, reports The Hindu Business Line.
Among BSE sectoral indices, oil & gas index was the star-performer and was up 1.21 per cent, followed by power 1.2 per cent, metal 1.08 per cent and infrastructure 1.06 per cent. Only FMCG index was down 0.1 per cent.
Major Sensex gainers were Tata Motors (+2.59 per cent), GAIL (+2.39 per cent), NTPC (+2.27 per cent), Wipro (+1.6 per cent) and Lupin (+1.58 per cent), while the major losers were TCS (-0.81 per cent), ITC (-0.66 per cent), Bharti Airtel (-0.35 per cent), HUL (-0.32 per cent) and HDFC Bank (-0.04 per cent).
Energy sector topped the gains on the NSE index even as oil prices remained under pressure.
Finance and auto sectors recovered from the previous day’s fall.
Foreign portfolio investors (FPIs) bought shares worth Rs 356.64 crore yesterday, as per provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) sold shares worth Rs 779.91 crore, as per provisional data.
Key indexes had on Wednesday recorded their highest intraday loss in over two months, triggered by a slump on the Wall Street due to a lack of clarity in US President Donald Trump’s economic policies.
US shares recovered on Wednesday while Asian stocks rose on Thursday, taking cues from gains on Wall Street.
“The bounce-back is due to both global and local factors. Mutual funds are getting record-high inflows everyday.
Flows have been very strong on both domestic and FII (foreign institutional investors) fronts,” said Miraj Vora, derivative analyst at Prabhudas Lilladher Pvt Ltd.
“We are heading into the expiry week. So there would be pressure on that front.
It’s looking very difficult for the Nifty to cross the 9,150-9,200 levels on the upside or break 9,000 on the lower side for this expiry,” added Vora.
“Banks have recovered today, but a meeting to discuss waiver of farm loans is scheduled on Friday and if something drastic comes out of that meeting, we may see banks facing some pressure,” added Vora.
Asian stocks, taking some cues from a steady Wall Street, edged up on Thursday while the path for the dollar, which crawled up from a four-month low, remained clouded by concerns about the prospects for US President Donald Trump’s pro-growth agenda.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2 per cent.