The Indian benchmark indices closed higher as the Sensex 85,774.82 or 165 points higher and the Nifty ended at 26,219.85 or over 14 points higher.
In the 30-share BSE Sensex, among the top gainers were stocks like Bajaj Finance, ICICI Bank, Hindustan Unilever, Bajaj Finserv and HCL Tech. Meanwhile, the laggards included stocks like Mahindra & Mahindra, Axis Bank, TMPV, Reliance and Bharat Electronics.
In the broader markets, the Nifty Micap 50 gained 0.16 per cent and the Nifty Smallcap 50 fell 0.57 per cent. Sectorally, the Nifty Oil & Gas tanked 0.73 per cent and the Nifty Media jumped 0.84 per cent.
The equity benchmarks retreated from record highs set earlier on Thursday as investors booked profits at higher levels, pulling the key indices off their intraday peaks.
The Sensex had crossed 86,000 for the first time today.
The BSE Sensex opened trading above 85,700, jumping more than 100 points, while the NSE Nifty50 rang the opening bell near 26,200, inching up 15 points, around 9:15 AM.
Asian Markets End Firm
Across Asia, major benchmarks closed in positive territory, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite Index and Hong Kong’s Hang Seng Index all finishing higher. European equities, however, were trading marginally lower. US markets ended higher on Wednesday, offering additional support to global sentiment.
Strong Institutional Buying
Foreign Institutional Investors (FIIs) purchased equities worth Rs 4,778.03 crore on Wednesday, as per exchange data. Domestic Institutional Investors (DIIs) also remained active, buying stocks worth Rs 6,247.93 crore in the previous session.
Risk Appetite Lifts Indian Markets
Indian markets surged to fresh record highs on Thursday, buoyed by a sharp improvement in global risk appetite amid strengthening expectations of a US Federal Reserve rate cut. “The upbeat sentiment across global equities provided a strong tailwind for domestic markets,” said Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm.