India's benchmark indices bucked the global trend as it closed at record highs on Thursday.
The S&P BSE Sensex ended 340 points higher, or 0.52%, at 65,785.63, while the NSE Nifty 50 closed 99 points up, or 0.51%, at 19,497.30.
Intraday, the Sensex rose 0.59% to scale a new high of 65,832.98 points, while the Nifty jumped 0.59% to hit a record of 19,512.20 points.
The real estate and energy sectors advanced, while information technology and fast-moving consumer goods were under pressure. Reliance Industries Ltd. and Mahindra & Mahindra Ltd. led the advances on the indices, while Infosys Ltd. and Bajaj Finance Ltd. dragged.
Stocks dropped as global markets responded to the U.S. Federal Reserve's commentary, which was more hawkish than expected. European and Asian stocks saw broad declines, while contracts on the S&P 500 pointed to a continuation of Wednesday's losses on Wall Street.
The Hang Seng index tumbled as much as 3.02%, while benchmarks in Japan and Australia fell more than 1%. A gauge representing Chinese firms in Hong Kong also dropped.
U.S. equity futures fell, compounding the S&P 500's losses on Wednesday. Contracts for the regionwide Euro Stoxx 50 also retreated, echoing the sour mood. In emerging markets, the central bank of Malaysia will hand down interest rate decisions after Sri Lanka slashed rates in the second meeting.
RIL, M&M, Power Grid Corp., Axis Bank Ltd., and Apollo Hospitals Enterprise Ltd. were positively adding to the change in the Nifty.
Infosys, ITC Ltd., HDFC Bank Ltd., Bajaj Finance, and Housing Development Finance Corp. were negatively contributing to the change.
The broader market indices outperformed the larger peers. The S&P BSE MidCap index was up 0.79%, whereas the S&P BSE SmallCap index gained 0.67%.
Nineteen out of the 20 sectors compiled by BSE Ltd. advanced, with the S&P BSE Realty index gaining the most. The S&P BSE Information Technology index declined.
The market breadth was skewed in favour of buyers. About 2,052 stocks rose, 1,401 declined, and 142 remained unchanged on the BSE.
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