Mumbai: Benchmark indices Sensex and Nifty continued their winning streak for the fourth day in a row Tuesday, ending nearly 2 per cent higher, amid a correction in crude oil prices from their recent highs and renewed foreign fund inflows.
The 30-share BSE Sensex jumped 1,225.07 points, or 1.62 per cent, to settle at the day’s high of 76,917.85.
The 50-share NSE Nifty rallied 370.05 points, or 1.58 per cent, to end at the day’s high of 23,810.85.
In the 30 Sensex firms, Hindustan Unilever, Bharti Airtel, HDFC Bank, Asian Paints, UltraTech Cement and ICICI Bank were among the major winners.
Power Grid, State Bank of India, NTPC, Tata Steel and Trent were the laggards.
Brent crude, the global oil benchmark, was up 0.72 per cent at USD 105.6 per barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 3,114.68 crore Monday, according to exchange data.
Rallying for the third day Monday, the Sensex jumped 1,233.25 points, or 1.66 per cent, to settle at the day’s high of 75,692.78. The Nifty surged 387.70 points, or 1.68 per cent, to end at the day’s high of 23,440.80.
In four days, the Sensex has gained 3,671.82 points, or 5 per cent, and the Nifty climbed 1,112 points, or 4.89 per cent.
“Indian equities extended their recovery as a sharp decline in crude oil prices, declining US Treasury yields and renewed FII interest eased recent macro pressures. Resilient Q2 earnings further strengthened confidence in the domestic growth outlook, while the return of foreign investors after prolonged selling provided a liquidity boost, driving broader participation led by financials and consumption-oriented sectors,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
In Asian markets, South Korea’s Kospi and Shanghai’s SSE Composite index ended lower, while Hong Kong’s Hang Seng index settled higher.
Markets in Europe were trading lower.
The US equity markets ended mostly lower Monday. The Nasdaq Composite and S&P 500 ended in negative territory, while Dow Jones Industrial Average settled higher.
