A screen displaying Sensex results on the façade of the Bombay Stock Exchange (BSE) building in Mumbai. file | Photo Credit: Reuters
Domestic equity market on Thursday snapped a five-day losing streak as the benchmark Sensex recovered lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks.
Investor sentiment was supported by a positive opening in European markets, while clouds loomed over the health of the global banking system amid the Credit Suisse crisis and bank failures in the US. or 0.14% at 57,634.84, with 17 of its components ending in the green. It touched a high of 57,887.46 and a low of 57,158.69 during the session.
The 50-share NSE Nifty rose 13.45 points, or 0.08%, to end at 16,985.60. Nifty 32 shares closed in the green mark.
Equity benchmarks ended in the positive zone after trading lower for most part of a volatile session.
Nestle India was the top gainer in the Sensex pack, rising 2.54%, followed by Asian Paints, HUL, Titan, Sun Pharma, SBI, PowerGrid and Bajaj Finserv.
On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech and Reliance declined up to 3.31%.
In Asian markets, Shanghai, Tokyo, Hong Kong and Seoul closed with heavy losses.
European stock markets marched higher in early trade on Thursday after troubled lender Credit Suisse announced its plans to boost liquidity.
Credit Suisse has said it will borrow money from the Swiss central bank and buy back about $3 billion in debt to help ease the growing crisis around it.
Wall Street’s major indices closed on a mixed note in overnight trade.
Meanwhile, the rupee depreciated by 13 paise to close at 82.78 against the US dollar on Thursday.
International oil benchmark Brent crude rose 0.76% to $74.25 a barrel.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,271.25 crore on Wednesday, according to exchange data.