Sensex climbs 123.58 points, Nifty extends settles above 25,000 on rally in global peers

Mumbai: Benchmark BSE Sensex climbed 123 points while broader Nifty settled above 25,000 on Thursday, tracking a rally in global peers amid Fed rate cut hopes.

Rallying for the fourth day in a row, the 30-share Sensex climbed 123.58 points or 0.15 per cent to settle at 81,548.73. During the day, it rallied 217.07 points or 0.26 per cent to 81,642.22.

The 50-share NSE Nifty rose by 32.40 points or 0.13 per cent to close at a nearly three-week high of 25,005.50, marking its seventh consecutive day of gains.

Among Sensex firms, NTPC, Axis Bank, Power Grid, Bharti Airtel, Eternal and Sun Pharma were the major gainers.

However, Infosys, Titan, UltraTech Cement and Hindustan Unilever were among the laggards.

The BSE midcap index gained 0.14 per cent while Smallcap index ended flat.

Among sectoral indices, oil & gas (1.19 per cent), power (1.06 per cent), energy (0.96 per cent), utilities (0.95 per cent), services (0.59 per cent) and telecommunication (0.55 per cent) were the gainers.

BSE Focused IT, IT, teck, auto and consumer discretionary were the laggards.

In four days, the BSE benchmark has surged 837.97 points or 1.03 per cent. The Nifty has jumped 290.45 points or 1.17 per cent in seven trading days.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled in positive territory while Hong Kong’s Hang Seng ended lower.

Markets in Europe were trading higher. US markets ended on a mixed note on Wednesday.

Foreign institutional investors (FIIs) offloaded equities worth Rs 115.69 crore after a day’s breather on Wednesday, according to exchange data. However, domestic institutional investors (DIIs) bought stocks worth Rs 5,004.29 crore in the previous day.