Benchmark equity indices Sensex and Nifty extended their gains for a fourth consecutive session on Wednesday, supported by declining crude oil prices after the United States and Iran reached a peace agreement that eased concerns over global energy supplies.
The 30-share BSE Sensex advanced 347.14 points, or 0.45 per cent, to close at 77,155.62. During the trading session, the index climbed as much as 410.51 points, or 0.53 per cent, to touch an intraday high of 77,218.99.
Similarly, the broader NSE Nifty rose 96.55 points, or 0.40 per cent, to settle at 24,085.70. The benchmark index had surged 119.05 points, or 0.49 per cent, during the day to reach a high of 24,108.20.
Among the Sensex constituents, Trent emerged as the top performer, rallying 7.06 per cent. Other major gainers included Bharat Electronics, Eternal, Tata Steel, Infosys, Titan and Bharti Airtel, which all ended the session in positive territory.
On the other hand, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank and Mahindra & Mahindra were among the notable laggards and closed lower.
Brent crude, the international oil benchmark, hovered around USD 79.10 per barrel, providing relief to investors concerned about inflationary pressures and import costs.
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“Persistent weakness in crude oil prices, aided by easing geopolitical tensions surrounding the Strait of Hormuz, has continued to support market sentiment,” said Vinod Nair, Head of Research at Geojit Investments Limited.
Across Asia, market performance was largely positive. South Korea’s Kospi, Japan’s Nikkei 225 and China’s Shanghai SSE Composite Index finished higher, while Hong Kong’s Hang Seng Index ended the day in negative territory. European markets were trading on a mixed note during afternoon deals, reflecting cautious investor sentiment across the region.
Meanwhile, US equity markets closed mostly lower on Tuesday as investors assessed economic data and monitored global developments. According to exchange data, Foreign Institutional Investors (FIIs) turned net sellers again on Tuesday after a brief pause, offloading equities worth ₹749.18 crore.
The domestic market had also ended strongly in the previous session. On Tuesday, the Sensex surged 544.15 points, or 0.71 per cent, to settle at 76,808.48, while the Nifty gained 135.25 points, or 0.57 per cent, to finish at 23,989.15.
The sustained rally over the past four sessions reflects improving risk appetite among investors, aided by softer crude oil prices, easing geopolitical concerns and stable global market cues.
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