SENSEX, NIFTY extend gains for 3rd day on strong global cues, lower US inflation

Equity benchmark indices SENSEX and NIFTY rallied for the third session on the trot, helped by a rally in global markets after lower-than-expected consumer inflation in the US ignited hopes of more rate cuts by the Federal Reserve.

The 30-share BSE index climbed 318.74 points or 0.42% to revisit 77,000 level at 77,042.82. During the day, it jumped 595.42 points or 0.77% to 77,319.50.

On the similar lines, the NIFTY50 rallied 98.60 points or 0.42% to 23,311.80.

From the 30-share blue-chip pack, Adani Ports, State Bank of India, Bajaj Finserv, Bharti Airtel, Tata Motors, IndusInd Bank, NTPC, Maruti, Reliance Industries and Axis Bank were the biggest gainers.

In contrast, HCL Tech, Nestle, Infosys, Hindustan Unilever, ITC and Tata Consultancy Services were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory.

Equity markets in Europe were quoting higher. US markets rallied on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,533.49 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude dipped 0.18% to $81.88 a barrel.

In the previous session, the BSE benchmark rose 224.45 points or 0.29% to settle at 76,724.08 on Wednesday. The Nifty advanced 37.15 points or 0.16% to 23,213.20.