The stock market closed higher.
Mumbai:
The gains in the domestic stock market continued for the fifth consecutive trading session on Thursday with the Sensex crossing the 66,000 mark on buying in HDFC Bank, L&T and State Bank of India. Traders said that the fall in crude oil prices in the international market has also supported the domestic market.
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BSE’s 30-share benchmark Sensex closed up 385.04 points, or 0.58 per cent, at 66,265.56 points. This compensated for the losses incurred during the day. Sensex remained in the range of 65,672.34 points to 66,296.90 points during the day’s trade.
The National Stock Exchange’s Nifty also closed up 116 points or 0.59 percent at 19,727.05 points. Among the Sensex companies, Larsen & Toubro gained 4.26 percent. Shares of IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro also rose.
While shares of Mahindra & Mahindra, Infosys, Ultratech Cement and Hindustan Unilever declined. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in losses. European markets were in gains in afternoon trade. US markets closed with losses on Wednesday.
Vinod Nair, head of research at Geojit Financial Services said, “The domestic market also opened on a subdued note amid a weak global trend. However, the market rallied later due to falling bond yields and falling crude oil prices in the US.
According to provisional stock market data, foreign institutional investors on Wednesday invested Rs. 3,245.86 crore worth of shares were sold.