Markets Soar For Third Consecutive Day Owing To Favorable Global Cues; Sensex Jumps 227 Points

On Thursday, the equity benchmark Sensex rose 227 points to regain the 72,000 mark, while the Nifty finished near the 22,000 level, owing to strong buying in market giants M&M, HDFC Bank, and SBI, as well as good global cues.

The 30-share BSE Sensex advanced for the third day in a row, closing at 72,050.38 points, up 227.55 points or 0.32 percent. During intra-day trading, the index peaked at 72,164.97 points and fell to 71,644.44 points.

The broader NSE Nifty improved 70.70 points, or 0.32 percent, to finish at 21,910.75.

M&M, NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints, and Wipro were the top gainers on the Sensex.

Among the laggards were Axis Bank, ITC, HUL, Nestle India, and Sun Pharma.

European stocks were trading in the green on Thursday.

In Asian markets, Japan’s Nikkei and Hong Kong’s Hang Seng closed higher, but South Korea’s Kospi fell.

China’s financial markets are closed for the Lunar New Year vacation.

On Wednesday, the US stock market ended the day higher.

Brent crude slid 0.09 percent to USD 81.53 a barrel.

According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 3,929.60 crore on Wednesday.

The previous session saw the Sensex rise 267.64 points, or 0.37 percent, to 71,822.83, while the Nifty moved up 96.80 points, or 0.45 percent, to close the day at 21,840.05 points.

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