Markets snaps 5-day losing run as Sensex rises 79 points, Nifty ends near 17,000 level

Mumbai: The domestic equity market on Thursday snapped the five-day losing streak as the benchmark Sensex recouped its lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks.

A positive opening in the European market helped the investor sentiments even as clouds hovered over the health of the global banking system amid Credit Suisse woes and bank failures in the US.

Halting its five-day losing streak, the 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green. During the session, it touched a high of 57,887.46 points and a low of 57,158.69 points.

The 50-share NSE Nifty advanced 13.45 points or 0.08 per cent to settle at 16,985.60 points. As many as Nifty 32 stocks closed in the green.

Nestle India was the biggest gainer in the Sensex pack, rising 2.54 per cent, followed by Asian Paints, HUL, Titan, Sun Pharma, SBI, PowerGrid and Bajaj Finserv. On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech and Reliance were among the losers, slipping up to 3.31 per cent.

Meanwhile, the rupee declined 11 paise to close at 82.76 against the US dollar on Thursday.