Mumbai. Local stock markets regained momentum on Thursday and BSE Sensex rose 900 points while NSE Nifty rose 285 points. Domestic markets remained on the rise in line with the rise in global stock markets after recent falls amid the ongoing crisis in West Asia. The 30-share Sensex ended its four-trading session of decline and closed at 80,015.90 with a gain of 899.71 points or 1.14 percent.
During trading, at one point it had climbed up to 1,187.64 points. NSE Nifty based on fifty shares closed at 24,765.90, up 285.40 points or 1.17 percent. With this, the trend of decline in the market that had been going on for three consecutive trading sessions came to an end.
Among Sensex stocks, Adani Ports, Larsen & Toubro, NTPC, Reliance Industries, Bharat Electronics and InterGlobe Aviation were major gainers. On the other hand, loss-making stocks include Tech Mahindra, HCL Tech, Hindustan Unilever and ICICI Bank.
Global oil benchmark Brent crude rose 1.84 percent to US$82.90 a barrel. Ponmudi R, CEO of online trading company Enrich Money, said, “Indian stock markets closed with a gain of more than one percent. With this, the sharp decline that had been going on for several days came to an end. As the West Asian conflict enters its sixth day, there is uncertainty over whether the situation will resolve or escalate further.
Due to this, market participants have adopted a cautious approach and are trading thoughtfully.” He said, ”Now there is some reduction in the nervousness that was seen in the previous sessions. This can be gauged from the fact that the India Volatility Index (India VIX) has come down by more than 15 percent from the recent high. The BSE Smallcap Select index related to small companies rose by 1.74 percent while the Midcap Select index related to medium companies gained 1.36 percent.
Among BSE listed stocks, 2,803 shares were in gain while 1,453 shares declined. Whereas share prices of 141 remained unchanged. Among other markets in Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng also closed with gains. There was an upward trend in the markets of Europe also in afternoon trading. US markets closed on a positive note on Wednesday.
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 8,752.65 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 12,068.17 crore. The Sensex fell 1,122.66 points to close at 79,116.19 points on Wednesday. Nifty was down by 385.20 points at 24,480.50 points.
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