Sensex closes higher for 3rd straight day; ITC surges 4.6%

Meanwhile, international oil benchmark Brent crude slipped 0.63 per cent to USD 75.34 per barrel.

Mumbai: Equity indices mustered gains for the third session on the trot on Thursday, propelled by energy, FMCG and infra counters amid a largely positive trend in global markets.

After a choppy start, the 30-share BSE Sensex gained momentum in afternoon trade to end 157.45 points or 0.27 per cent higher at 58,807.13.

Similarly, the broader NSE Nifty climbed 47.10 points or 0.27 per cent to 17,516.85.

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ITC was the top performer in the Sensex pack, jumping 4.60 per cent, followed by L&T, Asian Paints, Reliance Industries, M&M, Bajaj Finance, Dr Reddy’s and Infosys.

On the other hand, HDFC Bank, Titan, Nestle India, NTPC, PowerGrid and TCS were among the laggards, tumbling up to 1.67 per cent.

“Domestic indices surrendered to profit-booking in early session, but later gained ground owing to positive global sentiments,” said Vinod Nair, Head of Research at Geojit Financial Services.

Investors are keenly awaiting the US inflation data in order to gauge the Fed’s decision on rolling back economic stimulus, he added.

Ajit Mishra, VP – Research, Religare Broking, said markets oscillated in a range on the weekly expiry day and finally ended marginally higher.

“All eyes will be on crucial macro data (CPI and IIP)… which may further provide some direction to the markets. Meanwhile, the focus will remain on the global cues and updates regarding the new variant. We reiterate our cautious yet positive stance on the markets and suggest traders to focus on managing risk,” he noted.

Sectorally, BSE capital goods, FMCG, energy, telecom, industrials and oil and gas indices rose as much as 1.98 per cent, while bankex, finance, consumer durables and realty nursed losses.

In the broader markets, the BSE midcap and smallcap indices ended up to 0.80 per cent higher.

World stocks were mostly higher as investors monitored updates on the Omicron variant of the coronavirus amid mounting cases in many countries.

Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong ended with gains, while Tokyo was in the red.

Stock exchanges in Europe were largely trading on a positive note in the afternoon session.

The rupee edged down by 4 paise to settle at 75.54 (provisional) against the US dollar, tracking a firm American currency overseas.

Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 579.27 crore, as per exchange data.

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