Sensex Recovers 443 Points, while the Nifty Levels Off Above 15,550

After a shaky start, Indian market indices traded higher on Thursday, helped by increases in firms related to cars, technology, and pharmaceuticals. Today’s domestic mood was improved by a drop in crude oil prices.

As investors revised their estimations of the likelihood of a recession and gasoline consumption, Brent crude futures fell by 1.91 percent to $109.61 per barrel.

“Commodity prices are lower, especially oil, and that is relatively good for India as it is largely an importer. This could positively impact domestic inflation,” Narendra Solanki, Head of Research at Anand Rathi Investment Services, told news agency Reuters.

The wide NSE Nifty increased 143 points or 0.93 percent to conclude at 15,557 today, while the 30-share BSE Sensex rose 443 points or 0.86 percent to close at 52,266.

As the Nifty Midcap 100 increased 1.21 percent lower and the small-cap moved 1.31 percent higher, mid- and small-cap shares ended on a solid note.

The wide NSE Nifty increased 143 points or 0.93 percent to conclude at 15,557 today, while the 30-share BSE Sensex rose 443 points or 0.86 percent to close at 52,266.

As the Nifty Midcap 100 increased 1.21 percent lower and the small-cap moved 1.31 percent higher, mid- and small-cap shares ended on a solid note.

The National Stock Exchange’s compilation of 15 sector gauges, 14 of which reached positive closing values. By increasing by as much as 4.39 percent, 1.96 percent, and 1.58%, respectively, the sub-indices Nifty Auto, Nifty IT, and Nifty Pharma exceeded the platform. Ending 0.43 percent down, Nifty Oil & Gas.

Maruti was the highest Nifty gainer on a stock-by-stock basis, as the stock jumped 6.65% to ₹8,300.30. Among the winners were Bajaj Auto, M&M, M&C, Hero MotoCorp, and Eicher Motors.

2,093 shares on the BSE climbed while 1,211 fell, resulting in a positive total market breadth.

“Short-term volatility continues to remain high. Broadly expect pressure to continue while limited stock specific risk definable opportunities are available. Select auto, banking and midcap energy stocks look attractive from risk perspective. Expect continues selling pressure pressure in metals space,” said Sahaj Agrawal, Head of Research, Derivatives at Kotak Securities.

Maruti, M&M, Asian Paints, Bharti Airtel, TCS, Sun Pharmaceutical, Wipro, Hindustan Unilever, ICICI Bank, L&T, Bajaj Finserv, and Infosys were among the top gainers on the 30-share BSE index.

Reliance Industries, NTPC, PowerGrid, and UltraTech Cement, on the other hand, posted negative results.

Additionally, after advancing for three straight sessions, shares of Life Insurance Corporation of India (LIC), the nation’s largest insurer and domestic financial investor, declined 0.55 percent to close at ₹664.90.