Markets snaps 4-session losing run buoyed by gains in select banking & auto counters

Mumbai: Equity benchmark Sensex ended four days of losses on Thursday, buoyed by gains in select banking and auto counters, after the ruling BJP headed for a record victory in Gujarat but failed to retain Himachal Pradesh.

Persistent selling by foreign investors and mixed global cues capped the gains, traders

said.

The 30-share index opened lower but gained momentum as the session progressed, before finally ending 160 points higher at 62,570.68. A total of 13 of its components advanced while 17 declined.

On similar lines, the broader NSE Nifty advanced 48.85 points to settle at 18,609.35, with 27 of its constituents closing in the red.

Axis Bank, IndusInd Bank, L&T, ICICI Bank, Infosys, SBI, Bajaj Finserv and M&M were the major gainers among Sensex stocks, climbing up to 2.71 per cent.

Sun Pharma fell the most by 3.57 per cent after the USFDA listed its Halol facility under an import alert, with products manufactured at the unit now subject to refusal of admission in the US market. PowerGrid, TCS, Nestle, Wipro, Kotak Bank and Bajaj Finance were among the other losers.

Brent crude oil gained 28 cents to $77.45 per barrel.

The rupee consolidated in a narrow range and settled 9 paise higher at 82.38 against the US dollar on Thursday, supported by positive domestic equities..

Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 1,241.87 crore on Wednesday, according to exchange data.