Domestic equity benchmarks traded higher in early deals on Thursday, supported by declining crude oil prices and continued buying by foreign institutional investors (FIIs), with the BSE Sensex gaining 316 points or 0.38 per cent to touch an intraday high of 82,057.39, while the NSE Nifty advanced 86 points or 0.34 per cent to 25,342.
Both indices had opened lower, tracking cautious sentiment across Asian markets. They recovered as the session progressed.
Sectoral performance remained mixed. The Nifty IT index emerged as the biggest drag, falling more than 1 per cent. Nifty Auto and Nifty Healthcare declined by nearly 1 per cent.
Among the gainers, Nifty PSU Bank rose 0.23 per cent, Nifty Media gained 0.2 per cent, and Nifty Consumer Durables advanced 0.14 per cent.
Market experts attributed the Nifty’s 9.55 per cent rally across the first seven trading sessions of November largely to aggressive buying by foreign investors. They said the trend had reversed, with FIIs turning net buyers while domestic institutional investors (DIIs) continued to sell.
FIIs have invested ₹65,735 crore in Indian equities so far this month.
Experts believe the inflows could continue, supported by strong second-quarter earnings and relief from lower crude oil prices. Continued profit-booking by domestic institutions could limit further gains.
Investors are awaiting the release of India’s Consumer Price Index (CPI) inflation data for October, an important indicator for market direction.
Brent crude fell over 1 per cent to $91.51 per barrel, while WTI declined nearly 1 per cent to $85.41.
Asian markets traded mixed amid volatility in Nvidia, while US markets closed higher on easing concerns over AI spending.
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