Mumbai, Indian benchmark equity indices ended higher on Thursday, supported by easing crude oil prices and buying in PSU bank and chemical stocks. <\/p>\n\n\n\n
The Sensex rose 374 points, or 0.48 per cent, to settle at 78,954.76, while the Nifty gained 11.35 points, or 0.05 per cent, to close at 24,636.00.<\/p>\n\n\n\n
Commenting on Nifty technical outlook, experts said that on the downside, the 24,600 level now acts as the immediate support, followed by the 24,500 zone, which remains a stronger demand area.<\/p>\n\n\n\n
\u201cFrom the derivatives perspective, the 24,600 strike continues to hold the highest Put Open Interest (OI), reinforcing it as a key immediate support, while the 24,700 strike carries the highest Call Open Interest (OI), making it the immediate resistance,\u201d an analyst stated.<\/p>\n\n\n\n
Among the Nifty constituents, Reliance Industries, State Bank of India and Bharat Electronics emerged as the top gainers, providing significant support to the market’s upward move.<\/p>\n\n\n\n
In the broader market, the trend remained mixed. The Nifty MidCap index declined 0.44 per cent, indicating some profit booking in mid-sized stocks, while the Nifty SmallCap index rose 0.48 per cent.<\/p>\n\n\n\n
Sectorally, PSU banks and chemical stocks outperformed the broader market. The Nifty PSU Bank and Nifty Chemical indices registered strong gains as investors accumulated shares in these segments.<\/p>\n\n\n\n
On the other hand, realty, media and automobile stocks witnessed selling pressure. The Nifty Realty, Nifty Media and Nifty Auto indices ended among the worst-performing sectoral gauges during the session.<\/p>\n\n\n\n
Experts said that market participants continued to monitor global cues, particularly movements in crude oil prices, which remained supportive for sentiment.<\/p>\n\n\n\n
\u201cLower oil prices are generally viewed as positive for India’s economy as they help reduce import-related costs and ease inflationary pressures,\u201d an analyst stated.<\/p>\n\n\n\n
\u201cOver the long term, CAS should enhance the integrity of closing prices, improve benchmark reliability, reduce end-of-day price distortions, and bring India’s market infrastructure closer to global best practices. Investors should therefore focus on underlying business fundamentals rather than drawing conclusions from short-term benchmark divergences during this transition period,\u201d a market expert stated.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai, Indian benchmark equity indices ended higher on Thursday, supported by easing crude oil prices and buying in PSU bank and chemical stocks. The Sensex rose 374 points, or 0.48 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,20],"tags":[],"class_list":["post-3366","post","type-post","status-publish","format-standard","hentry","category-business","category-display","has_no_thumb"],"_links":{"self":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3366"}],"version-history":[{"count":1,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3366\/revisions"}],"predecessor-version":[{"id":3367,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3366\/revisions\/3367"}],"wp:attachment":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}