Sensex ends over 400 points higher, Nifty above 24,700; Eternal gains 5%

Benchmark stock market indices closed higher on Thursday, in a volatile session, as investors await the rate-cut decision by the monetary policy committee of the Reserve Bank of India (RBI).

The S&P BSE Sensex was up by 443.79 points to end at 81,442.04, while the NSE Nifty50 gained 130.70 points to close at 24,750.90. Ajit Mishra – SVP, Research, Religare Broking Ltd, said that markets witnessed volatility on the weekly expiry day but managed to close in the green.

Benchmark stock market indices closed higher on Thursday, in a volatile session, as investors await the rate-cut decision by the monetary policy committee of the Reserve Bank of India (RBI).

The S&P BSE Sensex was up by 443.79 points to end at 81,442.04, while the NSE Nifty50 gained 130.70 points to close at 24,750.90.

Ajit Mishra – SVP, Research, Religare Broking Ltd, said that markets witnessed volatility on the weekly expiry day but managed to close in the green.

Axis Bank also faced heavy selling, retreating 1.06%, while Bajaj Finserv declined 0.63%. Bajaj Finance dropped 0.57%, and Maruti Suzuki India Limited completed the list of worst performers with a loss of 0.34%.

Vinod Nair, Head of Research, Geojit Investments Limited, said that though profit booking remains evident at higher levels, the benchmark indices are attempting to recover their momentum amid consolidation.

“With a weakening dollar index and volatile US bond yields, FIIs are turning net buyers again after the recent selloffs in anticipation of final trade negotiations. Moreover, markets are attentively awaiting upcoming central bank decisions, with a 25-bps rate cut anticipated from both the ECB and RBI,” he added.

Nifty Midcap100 rose 0.65% and Nifty Smallcap gained 0.96%. The India VIX fell by 4.20%.

Most sectors ended in positive territory. Nifty Realty was the top performer, climbing 1.75%, followed by Nifty Pharma gaining 1.28% and Nifty Healthcare up 1.07%.

Other gainers included Nifty Metal rising 0.59%, Nifty PSU Bank gaining 0.58%, Nifty Financial Services up 0.48%, Nifty IT advancing 0.46%, Nifty Oil & Gas rising 0.26%, Nifty FMCG gaining 0.18% and Nifty Consumer Durables up 0.02%.

Only three sectors closed lower. Nifty Media declined 0.23%, Nifty Auto fell 0.11% and Nifty Private Bank dropped 0.10%.