Indian stock markets snapped four days of losses to close higher on Thursday, largely led by gains in IT stocks, amid a volatile session.
The Sensex rose 113.11 points, or 0.2%, to end the day at 57,901.14, and Nifty closed up 27 points at 17,248.40.
On the Nifty, Bajaj Finance, Infosys, BPCL, Titan Company and Reliance Industries were among the top gainers, while Hindalco Industries, Cipla, Maruti Suzuki, ICICI Bank and Hero MotoCorp fell the most.
Barring IT and oil & gas indices, all other sectoral indices ended in the red. BSE MidCap and SmallCap indices eased 0.5% each.
Indian markets opened on a positive note following Asian market cues as globally investors assess US Fed’s decision on taper and rates. The US Fed communicated to aggressively unwind bond buying and sees three rate hikes in 2022 and two each in following next two years. During the afternoon session, the markets continued to hold their head above water. However, upside remain capped on relentless FII selling in capital markets which impacted traders’ sentiment. During the closing session, the markets succumbed to selling pressure.