Stock markets rise for second session, Sensex gains 156 points

Benchmark BSE Sensex rose by 156 points while the Nifty closed above the 17,300 level on Thursday after gains in metal, IT and capital goods shares amid foreign capital inflows.

The 30-share BSE benchmark gained 156.63 points or 0.27% to settle at 58,222.10. During the day, it jumped 513.29 points or 0.88% to 58,578.76.

The broader NSE Nifty advanced 57.50 points or 0.33% to end at 17,331.80.

Among Sensex shares, Tata Steel, Larsen & Toubro, ICICI Bank, HCL Technologies, Infosys and Axis Bank were among the winners.

However, Bharti Airtel, Hindustan Unilever, IndusInd Bank, HDFC and Bajaj Finance were among the laggards.

Vinod Nair, Head of Research at Geojit Financial Services said, “The Indian market is maintaining its resilience despite mixed cues from global equities and surging oil prices. Both domestic and foreign investors are supporting the rally.” The market was also bolstered by expectations on Q2 results session, with improvement in sectors like metal, IT, and realty, Nair added.

Elsewhere in Asia, markets in Seoul and Tokyo ended higher, while Shanghai and Hong Kong settled lower.

Stock exchanges in Europe were trading in the negative territory in mid-session deals. The U.S. markets ended marginally lower on Wednesday.

The domestic equity markets were closed on Wednesday for the Dussehra festival.

In the previous session on Tuesday, the BSE benchmark had jumped 1,276.66 points or 2.25% to settle at 58,065.47. The Nifty rallied 386.95 points or 2.29% to end at 17,274.30.

Meanwhile, the international oil benchmark Brent crude futures climbed 0.14% to $93.50 per barrel.

Foreign institutional investors were net buyers as they bought shares worth ₹1,344.63 crore on Tuesday, according to data available with BSE.