Markets surge for 4th day; Sensex reclaims 78K-level amid FII inflow
Benchmark indices Sensex and Nifty surged nearly 2 per cent on Thursday, registering their fourth day of rally as investors turned buoyant after foreign investors returned to domestic equities amid expectations of a breakthrough in US-Japan trade negotiations over reciprocal tariffs.
The 30-share BSE benchmark Sensex jumped 1,508.91 points or 1.96 per cent to reclaim the 78,000 level. It finally settled at 78,553.20. During the day, it soared 1,572.48 points or 2.04 per cent to 78,616.77.
As many as 2,427 stocks advanced while 1,522 declined and 157 remained unchanged on the BSE. The NSE Nifty surged 414.45 points or 1.77 per cent to 23,851.65.
“Benchmark indices posted sharp gains on Thursday to end the week on a high note, posting four consecutive sessions of gains. Broader Mid and Small caps also closed higher.
“Markets opened lower on weak global cues after sharp overnight losses in US indices. After initial jitters, markets quickly bounced back to steadily climb higher throughout the day as the focus shifted to domestic factors and ongoing earnings.
Banks continued to drive the benchmarks higher with private lenders leading the gains ahead of the earnings announcements,” Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said.
The rupee strengthened for the fourth consecutive session and closed 26 paise higher at 85.38 against the US dollar, hitting the April 3 closing level, on the back of foreign fund inflows in domestic equities and broad weakness in the greenback.
Gold prices rose by Rs 70 to hit yet another record high of Rs 98,170 per 10 grams in the national capital on Thursday amid firm global demand, according to the All India Sarafa Association.
On Wednesday, the precious metal of 99.9 per cent purity soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams.