Sensex, Nifty end 1 pc higher on hopes of policy support

MUMBAI: Indian equity markets ended in the green for a second consecutive session on Thursday, with benchmark indices surging over 1 per cent each amid buying in pharmaceuticals, healthcare, metal and banking stocks and expectations of policy measures to address currency volatility.

Sensex closed at 75,398.72, rising 789.74 points or 1.06 per cent, while Nifty settled 277 points or 1.18 per cent higher at 23,689.60. During intraday trade, the benchmarks jumped as much as 1.43 per cent or 1,073 points to 75,681.88 and 1.55 per cent or 364 points to 23,777.20, respectively.

At the day’s low, the 30-share index touched 74,526.77, down 0.11 per cent or 82 points from the previous close, while the Nifty hit 23,426.55, up 0.05 per cent or 14 points.

Sector-wise, Nifty Pharma was the top gainer, rising 2.74 per cent, followed by the Nifty Healthcare Index, which advanced 2.56 per cent. The Nifty Metal index also climbed 2.04 per cent.

Banking counters also moved higher, with the Nifty PSU Bank index rising 1.37 per cent and the Nifty Private Bank index gaining 1.16 per cent.

On the other hand, Nifty IT was the top sectoral laggard, declining 2 per cent amid selling pressure in technology stocks. Key IT counters, including HCL Tech, Infosys, Tata Consultancy Services (TCS) and Tech Mahindra, witnessed losses during the session.

According to market experts, domestic stock markets staged a recovery from intraday lows and ended higher despite weakness in the rupee and elevated crude oil prices.