Mumbai: Stock markets advanced for the third consecutive day on Thursday, with the benchmark Sensex gaining 320 points to close above 83,000 level after the US Federal Reserve cut its key interest rate by 25 basis points.
The 30-share BSE Sensex rallied 320.25 points or 0.39 per cent to settle at 83,013.96.
The 50-share NSE Nifty climbed 93.35 points or 0.37 per cent to 25,423.60.
Shares of pharma, IT and financial companies edged higher while realty and energy stocks ended on a muted note.
Among Sensex firms, Zomato-owner Eternal rose the most by 2.96 per cent on positive bets by brokerages. Sun Pharma, Infosys and HDFC Bank rose more than 1 per cent. HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports were also among the gainers. Tata Motors emerged as the biggest loser among Sensex shares, dropping by 1.13 per cent. Trent, Bajaj Finance and Asian Paints were among the laggards.
The BSE midcap gauge went up by 0.36 per cent while smallcap index ended flat, marginally lower by 0.01 per cent.
Among sectoral indices, healthcare jumped 0.87 per cent, BSE Focused IT by 0.84 per cent, IT by 0.81 per cent, teck by 0.57 per cent, financial services by 0.48 per cent and metal by 0.35 per cent. Capital Goods, services, industrials, energy and commodities were the laggards. As many as 2,182 stocks advanced while 1,993 declined and 167 remained unchanged on the BSE.
The rupee depreciated 35 paise to close at 88.20 against the US dollar on Thursday, on hawkish Fed and a bounce back in the US dollar.