Indian equity markets extended Wednesday’s gains on Thursday, with the Nifty reclaiming the 22,500 mark and the Sensex rising 610 points, bolstered by positive global cues and the Reserve Bank of India’s liquidity measures.The Nifty closed 207 points higher at 22,545, marking a two-week high. The Sensex gained 610 points, ending the session at 74,340. Among the broader indices, the Nifty Bank advanced 138 points to 48,628, while the Midcap Index rose 180 points to 49,348.
Positive brokerage notes helped lift Reliance Industries, which gained more than 2%, while crude derivative stocks such as paint and tyre manufacturers surged as Brent crude fell below $70 per barrel. Asian Paints emerged as the top gainer on the Nifty, followed by Coal India, BPCL, and NTPC, all of which saw notable gains of 3-4%.
Market breadth was firmly positive, with advances outnumbering declines at a ratio of 3:1. The BSE-listed companies gained a combined market capitalization of more than ₹12 lakh crore. Oil marketing companies saw strong buying interest, rising by 3-4% on the decline in crude prices.In other news, Britannia closed 2% off its highs following the resignation of its CEO. Gensol Engineering, however, hit the lower circuit despite management’s comments of no wrongdoing regarding recent issues.
Positive brokerage notes helped lift Reliance Industries, which gained more than 2%, while crude derivative stocks such as paint and tyre manufacturers surged as Brent crude fell below $70 per barrel. Asian Paints emerged as the top gainer on the Nifty, followed by Coal India, BPCL, and NTPC, all of which saw notable gains of 3-4%.
Market breadth was firmly positive, with advances outnumbering declines at a ratio of 3:1. The BSE-listed companies gained a combined market capitalization of more than ₹12 lakh crore. Oil marketing companies saw strong buying interest, rising by 3-4% on the decline in crude prices.In other news, Britannia closed 2% off its highs following the resignation of its CEO. Gensol Engineering, however, hit the lower circuit despite management’s comments of no wrongdoing regarding recent issues.
The broader market remained in the green, with MGL, Godrej Consumer, HPCL, IIFL Finance, Dr Lal PathLabs, and CAMS among the top midcap gainers. Meanwhile, Coforge experienced profit booking after a significant surge the previous day, closing 3% lower.
In the auto sector, stocks like Motherson Sumi, Sona BLW, and Bharat Forge gained 3-4% on certain tariff relaxations. Metal stocks also performed well, with Hindalco and Tata Steel rising by 3-4% in response to positive global cues.
Despite some initial gains, the BSE index failed to maintain its opening surge and ended the session 2% lower.
