Stock markets extend rally to 4th day as easing crude oil prices fuel buying
Trent, Bharat Electronics, Eternal, Tata Steel, Infosys, Titan and Bharti Airtel among winners
Stock market benchmark indices Sensex and Nifty ended higher on Wednesday, taking their winning run to the fourth straight session, buoyed by softening crude oil prices following a peace deal between the US and Iran.
The 30-share BSE Sensex climbed 347.14 points, or 0.45 per cent, to settle at 77,155.62. During the day, it jumped 410.51 points, or 0.53 per cent, to 77,218.99.
The 50-share NSE Nifty rallied 96.55 points, or 0.40 per cent, to end at 24,085.70. Intraday, the benchmark advanced 119.05 points, or 0.49 per cent, to 24,108.20.
Among the 30 Sensex firms, Trent jumped the most, by 7.06 per cent. Bharat Electronics, Eternal, Tata Steel, Infosys, Titan and Bharti Airtel were also among the winners.
Bajaj Finserv, Axis Bank, Kotak Mahindra Bank, and Mahindra & Mahindra were among the laggards.
Brent crude, the global oil benchmark, traded at around USD 79.10 per barrel.
“Continued weakness in crude oil prices, driven by easing geopolitical tensions around the Strait of Hormuz, has kept investor sentiment buoyant,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index ended higher, while Hong Kong’s Hang Seng index settled lower.
Markets in Europe were trading on a mixed note.
US markets ended mostly lower on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 749.18 crore on Tuesday after a day’s breather, according to exchange data.
On Tuesday, the Sensex jumped 544.15 points, or 0.71 per cent, to settle at 76,808.48. The Nifty climbed 135.25 points, or 0.57 per cent, to end at 23,989.15.
