SENSEX, NIFTY extend gains for 2nd day on buying in IT, consumer stocks

Equity benchmark indices SENSEX and NIFTY extended gains for the second session on Thursday due to intense buying in IT, consumer durables and commodity stocks amid a largely positive trend in global markets.

In a volatile trade, the 30-share index rose 115.39 points or 0.15% to settle at 76,520.38. During the session, it climbed 338.55 points or 0.44% to hit a high of 76,743.54.

The broader NIFTY50 added 50 points or 0.22% to end at 23,205.35.

From the SENSEX pack, UltraTech Cement, Mahindra & Mahindra, Sun Pharmaceutical, Zomato, Tech Mahindra, Tata Steel, Tata Motors, Titan, ITC and Bajaj Finance were the major gainers.

In contrast, Kotak Mahindra Bank, HCL Technologies, PowerGrid, Reliance Industries, State Bank of India, Hindustan Unilever, IndusInd Bank, Nestle India and Axis Bank were among the laggards.

In broader markets, the BSE smallcap index rose 0.67% and midcap gauge jumped 1.78%.

Among BSE sectoral indices, Consumer Durables rose the most by 1.95%t, Commodities by 1.86%, Focused IT by 1.79%, Information Technology by 1.51%, Services 1.42% and Consumer Discretionary and Healthcare went up 1.28 per cent each.

On the other hand, Energy, Bankex and Oil & Gas were the only laggards.

Overall, the market breadth was positive as 2,119 stocks advanced while 1,842 declined and 106 remained unchanged on the BSE.

The market capitalisation of BSE-listed companies rose by ₹2,75,359.24 crore to ₹4,24,63,686.80 crore or $4.91 trillion.

On the stock-specific front, UltraTech Cement gained approximately 6% during the latter part of the trading session, led by positive earnings.

In Asian markets, Tokyo and Shanghai ended higher, while Hong Kong and Seoul closed lower.

European markets were trading higher in mid-session deals on Thursday. US markets ended on a positive note in overnight trade on Wednesday.

Global oil benchmark Brent crude rose 0.20% to $79.16 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,026.25 crore on Wednesday, according to exchange data.