After erasing early losses, Indian stock markets rose on Thursday led by strong buying in automobile, information technology and healthcare stocks.
At the closing bell, BSE Sensex rose nearly 115 points or 0.15 per cent to 76,520.38. Nifty 50 closed at 23,205, up 50 points or 0.22 per cent.
Out of 30 Sensex stocks, 19 closed in the green. Tech Mahindra, Sun Pharma, M&M, Zomato, UltraTech Cement and Titan were the biggest gainers.
On the other hand, HUL, HDFC Bank, SBI, Reliance Industries and HCL Tech were the biggest losers.
On the Nifty 50, Wipro, Sun Pharma, Grasim, UltraTech Cement and others were among the top gainers, while on the National Stock Exchange (NSE) BPCL, Kotak Mahindra, SBI, Reliance and HCL Tech were among the top losers.
Broader markets outperformed the benchmark indices, with the Nifty Smallcap index rising 1.1 per cent and the Midcap index rising 1.6 per cent.
Among sectors, Nifty IT index led the rally with a gain of 2 per cent. However, the Nifty PSU Bank index remained under pressure, down 0.5 per cent.
The market witnessed a slightly positive sentiment on Thursday, with over 2,100 shares registering gains on the BSE, ahead of 1,800 shares ending in the red.
Market experts said, however, that US President Donald Trump's administration is expected to soften its stance to curb US and global economic momentum.
“Nonetheless, this policy direction marks a return to trade war tactics, where volatility becomes the mainstay and headlines can rapidly change market direction,” he said. According to Rupak Dey of LKP Securities, after a positive start, the trading session remained calm with the index showing limited movement. “As long as the index remains below 23,400, the bearish trend is likely to continue,” he said. On the downside, support levels are seen at 23,150 and 23,000.”
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