Sensex reclaims 59K mark amid heavy buying in IT, bank stocks

Mumbai: Equity benchmark Sensex rallied 515 points on Thursday to reclaim the 59,000-mark after a gap of four months, propelled by heavy buying in IT, banking and financial stocks amid sustained foreign fund inflows and positive Asian equities.

The 30-share BSE index ended 515.31 points or 0.88 per cent higher at 59,332.60 — its highest closing since April 8, 2022. Similarly, the broader NSE Nifty gained 124.25 points or 0.71 per cent to close at 17,659.

Axis Bank was the top gainer in the Sensex pack, climbing 2.75 per cent, followed by Bajaj Finance, HDFC, Tech Mahindra, TCS, SBI and Wipro.

On the other hand, ITC, NTPC, HUL, Bharti Airtel, Maruti and Nestle India were among the major laggards, sliding as much as 1.56 per cent.

Market breadth was in favour of the bulls, with 19 of the 30 Sensex counters logging gains.

Sectorally, BSE bankex, finance, IT and realty climbed up to 1.64 per cent, while FMCG, metal, auto, telecom and basic materials nursed losses. Broader markets were up, with the BSE midcap index advancing 0.83 per cent and the smallcap gauge rising 0.52 per cent.

Meanwhile, the international oil benchmark Brent crude was trading 0.92 per cent higher at $98.30 per barrel.