Indian equities posted their fourth consecutive day of gains on Thursday after the US Federal Reserve signalled more interest rate cuts later this year, seeing brief increase in inflation due to Trump's tariff policies.
Benchmark indices ended at their highest level in over a month. The NSE Nifty 50 closed 1.24% or 283 points higher at 23,190.65, while BSE Sensex added nearly 900 points, or 1.2% to end at 76,348.06.
Intraday, Nifty gained 1.35% to edge above 23,200, way past the resistance seen by analysts at 23,000. Sensex climbed 1.3% to go beyond 76,400.
The Nifty Bank ended higher for the sixth day in a row, rising 0.7%.
The indices rose, tracking gains in Asia-Pacific stocks and overnight gains on Wall Street.
Shares of HDFC Bank Ltd., Bharti Airtel Ltd., Infosys Ltd. and Tata Consultancy Services Ltd. added most to gains in the Nifty.
While those of Bajaj Finance Ltd., IndusInd Bank Ltd., Trent Ltd., and Shriram Finance Ltd. weighed the index.
The 50-share index saw 44 companies advance and six decline. Bharti Airtel, Titan Co. and Britannia Industries Ltd. were the top gainers.
All 12 sectoral indices on the NSE ended in green. Nifty Oil and Gas was the top sectoral gainer for the day, led by Gujarat State Petronet Ltd., Mahanagar Gas Ltd. and Hindustan Petroleum Corp.
Nifty Oil and Gas, Metal, Pharma, Financials posted gains for the fourth day in a row, while Nifty Auto, Realty and PSU Banks advanced for the third day in a row.
The broader markets underperformed. The Nifty Smallcap 250 added 0.78%, with Rajesh Exports Ltd., Shipping Corp. and SPARC leading.
On the other hand, Nifty Midcap 150 gained 0.55% led by Bharat Forge Ltd., Max Healthcare Ltd. and Phoenix Mills Ltd.
The market breath was skewed in the favour of buyers. Over 1,200 stocks advanced on the NSE, while 830 declined.
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