Sensex rebounds 443 points, Nifty settles above 15,550; Rise in auto and tech stocks

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Sensex and Nifty settled on a higher note today.

New Delhi:

India’s equity benchmarks traded higher on Thursday after a dismal start, buoyed by gains in auto, technology and pharmaceutical stocks. A drop in crude oil prices boosted domestic sentiment today.

Brent crude futures fell about 1.91% to $109.61 a barrel as investors recalibrated assessments of recession risk and fuel demand.

“Commodity prices are lower, especially oil, and that’s relatively good for India as it’s largely an importer. That could have a positive impact on domestic inflation,” he said. Narendra Solanki, head of research at Anand Rathi Investment Services, told Reuters news agency.

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The 30-stock BSE Sensex jumped 443 points or 0.86% to close at 52,266 today, while the broader NSE Nifty rose 143 points or 0.93% to settle at 15,557.

Mid and small cap stocks ended on a strong note, with the Nifty Midcap 100 up 1.21% and small caps up 1.31%.

The 30-stock BSE Sensex jumped 443 points or 0.86% to close at 52,266 today, while the broader NSE Nifty rose 143 points or 0.93% to settle at 15,557.

Mid and small cap stocks ended on a strong note, with the Nifty Midcap 100 up 1.21% and small caps up 1.31%.

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14 of 15 sector gauges – compiled by the National Stock Exchange – settled in the green. The Nifty Auto, Nifty IT and Nifty Pharma sub-indices outperformed the platform rising as much as 4.39%, 1.96% and 1.58%, respectively. Nifty Oil & Gas ended down 0.43%.

On the stock-specific front, Maruti was Nifty’s top gainer as the stock soared 6.65% to Rs 8,300.30. Hero MotoCorp, Eicher Motors, M&M and Bajaj Auto were also among the winners.

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Overall market breadth remained positive as 2,093 stocks rose while 1,211 fell on BSE.

On the 30-stock BSE index, Maruti, M&M, Asian Paints, Bharti Airtel, TCS, Sun Pharma, Wipro, Hindustan Unilever, ICICI Bank, L&T, Bajaj Finserv and Infosys were among the top gainers.

On the other hand, Reliance Industries, NTPC, PowerGrid and UltraTech Cement finished in the red.

Additionally, shares of Life Insurance Corporation of India (LIC), the country’s largest insurer and largest domestic financial investor, fell 0.55% to close at Rs 664.90 after rising for three consecutive sessions. .

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