Benchmark indices Sensex and Nifty ended the session in the green, shrugging off weak global cues and Brent crude hovering near USD 102 per barrel. The 30-share BSE Sensex gained 138.36 points or 0.19 per cent to settle at 74,902.59. During the day, the benchmark hit a high of 75,910.96 and a low of 74,598.47, gyrating 312.49 points. The 50-share NSE Nifty ended with a gain of 46.30 points or 0.20 per cent and closed the session at 23,477.80. However, the broader market ended the session mixed. While the BSE MidCap Select Index fell 64.66 points or 0.34 per cent, the BSE SmallCap Select Index gained 15.03 points or 0.16 per cent.
Among sectoral indices, Nifty Metal and Nifty Pharma dropped 0.65 per cent and 0.41 per cent, respectively. However, Nifty Media outperformed and gained 0.55 per cent.
“After three sessions of sharp weakness, the markets have rebounded in Thursday’s closing auction session, and Nifty ended the day higher by 46 points. The choppy movement and the lack of strength to sustain the highs continued in the market for the better part of Thursday’s session before showing an uptick towards the end,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Top gainers and losers
Among the 30-Sensex firms, Power Grid, Axis Bank, UltraTech Cement, NTPC and Tech Mahindra were the major gainers, with Power Grid gaining 2.27 per cent today. On the flip side, HCL Tech, Tata Steel, Trent, ITC and Adani Ports were among the laggards. HCL Tech shares fell 2.43 per cent today.
Today, shares of 115 out of 30 Sensex companies closed in the green, while the remaining 15 closed in the red. Meanwhile, 24 of the 50 Nifty 50 companies closed in the green, while the other 26 closed in the red. One stock remained unchanged.
Rupee trades weaker
Meanwhile, rupee weakness continued, with the currency falling around 0.38 per cent to 95.43, as elevated crude prices continued to weigh on the rupee. Forex traders said the currency is currently facing opposing forces, with downside pressure driven by a resumption of foreign portfolio outflows, following positive flows in July and August and crude oil trading above USD 102 per barrel.
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