Mumbai The positive effect of the fall in crude oil prices was seen on the Indian stock market on Thursday. The market started with strong gains and Sensex rose by about 400 points in early trade, while Nifty was seen trading above the level of 24,100. During trading, Sensex gained 399.85 points (0.52 percent) to 77,391.07 and Nifty gained 104.20 points (0.43 percent) to 24,125.85.
The market rise was led by the IT and realty sectors. Nifty IT and Nifty Realty indices recorded the highest gains. Apart from this, shares of Auto, PSU Bank, Oil & Gas, Financial Services, Private Bank and Services sectors were also seen trading in the green. At the same time, there was slight weakness in Nifty Metal Index.
Along with largecap shares, buying by investors was also seen in midcap and smallcap shares. Nifty Midcap 100 rose by about 290 points to reach 62,426, while Nifty Smallcap 100 was seen trading with a slight rise at 18,879 levels.
Major Sensex gainers included IndiGo, M&M, Maruti Suzuki, Trent, ICICI Bank, UltraTech Cement, SBI, TCS, HDFC Bank, Kotak Mahindra Bank, Bajaj Finserv, Tech Mahindra, HUL, Axis Bank and NTPC. On the other hand, shares of Eternal, Titan, Infosys, Power Grid, Asian Paints, ITC, BEL, Tata Steel and Sun Pharma remained under pressure.
A positive trend was also seen in Asian markets. Markets in Tokyo, Shanghai, Bangkok, Seoul and Jakarta were trading with gains, while the Hong Kong market closed with weakness. At the same time, there was a mixed trend in the American markets on Wednesday. The Dow Jones closed up 0.35 percent, while the Nasdaq declined 0.43 percent.
Market experts believe that investors’ confidence has increased as the price of crude oil has come down to around $73 per barrel. Softening of oil prices may prove helpful in reducing India’s current account deficit. Besides, it is also expected to support economic growth and help in controlling inflation in the financial year 2026-27.
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