Sensex Climbs 284 Points to 55,681.95 at Close, Nifty Tops 16,600

Mumbai: Benchmark indices bounced again after falling in early commerce on Thursday and logged the fifth day of achieve amid a decline in crude oil costs and overseas funds influx. The 30-share BSE Sensex climbed 284.42 factors or 0.51 per cent to settle at 55,681.95. During the day, it jumped 340.96 factors or 0.61 per cent to 55,738.49.

The broader NSE Nifty went greater by 84.40 factors or 0.51 per cent to 16,605.25. Among the Sensex constituents, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Asian Paints, Tech Mahindra, Larsen & Toubro, Axis Bank and Power Grid have been the gainers.

Shares of IndusInd Bank climbed 7.88 per cent after the corporate reported a 60.5 per cent soar in internet revenue for the quarter ended June. Dr Reddy’s Lab, Kotak Mahindra Bank, Reliance Industries, HDFC Bank and NTPC have been the laggards. “With support from FII buying, the domestic market was able to withstand the downward pressure from global markets to close on a positive note. Global indices traded lower on rate hike concerns…,” mentioned Vinod Nair, Head of Research at Geojit Financial Services. In Asia, markets in Seoul and Tokyo ended within the inexperienced, whereas Shanghai and Hong Kong settled decrease.

Markets in Europe have been buying and selling on a blended notice throughout mid-session offers. The US markets had ended greater on Wednesday. Meanwhile, the worldwide oil benchmark Brent crude fell 3.90 per cent to USD 102.8 per barrel.

Foreign institutional traders have been internet consumers on Wednesday, choosing up shares price Rs 1,780.94 crore, as per alternate knowledge. “FIIs have turned net buyers of local shares to the tune of Rs 1,781 crore on Wednesday, extending the buying momentum for the third straight session,” mentioned Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

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