Sensex jumps 2,008 points as Nifty reclaims 24,500 mark
Banking and automobile stocks led a sharp market rally on Thursday, supported by improving global sentiment and falling crude oil prices.
The BSE Sensex closed at 79,310.01 on Thursday, gaining 2,008.61 points or 2.60 per cent, according to reports by India Today and BusinessLine. The index opened at 78,910.94 and reached an intraday high of 79,470.03.
The NSE Nifty 50 settled at 24,536.60, marking an increase of 576 points or 2.40 per cent. The Nifty opened at 24,378.05 and touched an intraday high of 24,579.90, reclaiming its 20-, 50-, 100-, and 200-day exponential moving averages.
Buying was widespread across sectors, particularly in banking, automobile, financial, and realty stocks. Bajaj Finance was the top Sensex gainer, rising 7.77 per cent, while IndiGo, ICICI Bank, Maruti Suzuki, and Mahindra & Mahindra also recorded significant gains.
Global cues supported the rally, specifically a sharp fall in crude oil prices. Brent crude settled 8.7 per cent lower at $94.62 on Wednesday, following comments by US Vice President JD Vance regarding the Iran war, which fuelled expectations of diplomatic engagement.
While most sectors ended in positive territory, NTPC was the biggest Sensex loser, falling 1.65 per cent. Other decliners included Bharat Electronics, Adani Ports, Power Grid, ITC, and Bharti Airtel.