Rallying for fourth straight session, Sensex jumps 899 pts & Nifty reclaims 23K-mark

Mumbai: Rallying for the fourth straight session, stock market benchmarks Sensex and Nifty surged over 1 per cent on Thursday, powered by across-the-board buying amid a mixed trend in global equities after the US Federal Reserve maintained its rate cut projections for this year.

Hectic buying in market heavyweights Reliance Industries, Bharti Airtel and IT stocks also bolstered investor sentiment, traders said.

The 30-share BSE benchmark Sensex jumped 899.01 points or 1.19 per cent to settle at 76,348.06, regaining the 76,000 level.

The NSE Nifty surged 283.05 points or 1.24 per cent to reclaim the 23,000-mark to finish at 23,190.65.

The market capitalisation of BSE-listed firms surged Rs 17,43,418.8 crore to Rs 4,08,61,851.73 crore ($4.73 trillion) in four days.

From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers. However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards.

The rupee stayed firm and appreciated 1 paisa to close at 86.36 against the US dollar on Thursday supported by positive domestic equities.

FIIs offloaded equities worth Rs 1,096.50 crore on Wednesday after a day’s breather, according to exchange data. Domestic Institutional Investors (DII), however, bought equities worth Rs 2,140.76 crore.