Markets snap 4-day losing streak, Sensex climbs 158 pts

Snapping the four-day losing run, benchmark Sensex climbed 158 points and Nifty settled above 26,000 on Thursday following buying in technology and IT shares.

The 30-share BSE Sensex edged higher by 158.51 points or 0.19 per cent to settle at 85,265.32. During the day, it rose by 380.4 points or 0.44 per cent to 85,487.21. The 50-share NSE Nifty climbed 47.75 points or 0.18 per cent to 26,033.75. Sensex dropped around 613 points or 0.72 per cent while Nifty shed nearly 230 points or 0.8 per cent in four straight sessions to Wednesday. Tata Consultancy Services, Tech Mahindra, Infosys, HCL Tech, Bharti Airtel, Sun Pharma, Bharat Electronics and Trent were the major gainers among Sensex scrips. However, Maruti, Eternal, Kotak Mahindra Bank and Titan were among the laggards. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,206.92 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 4,730.41 crore, according to exchange data.

“Equity markets traded in a narrow range today as sentiment remained subdued amid persistent weakness in the Indian rupee. With the RBI’s monetary policy decision due on Friday, investors largely opted to stay on the sidelines, leading to a lacklustre trading session and limited directional movement across the indices. The rupee slipped further on Thursday, marking a fresh lifetime low,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.