The New Indian Express ·
Economy, business and finance
Markets snap 3-day losses; elevated crude oil prices, geopolitical tensions weigh on sentiment
MUMBAI: Market benchmark indices Sensex and Nifty ended higher on Thursday, snapping three days of decline, on fag-end buying in blue-chip HDFC Bank and Axis Bank.
However, elevated crude oil prices above USD 100-per-barrel mark, amid persistent geopolitical tensions, kept risk appetite subdued throughout the day.
The 30-share BSE Sensex advanced 138.36 points, or 0.19 per cent, to settle at 74,902.59 on last-minute buying. During the day, it hit a high of 74,910.96 and a low of 74,598.47.
The 50-share NSE Nifty edged higher by 46.30 points, or 0.20 per cent, to end at 23,477.80.
Among the 30 Sensex firms, Power Grid, Axis Bank, UltraTech Cement, NTPC, Tech Mahindra, Bharti Airtel, HDFC Bank, and Larsen & Toubro were the major winners.
HCL Tech, Tata Steel, Trent, and ITC were among the laggards.
Brent crude, the global oil benchmark, jumped 1.19 per cent to USD 102.2 per barrel.
"Indian equities ended marginally higher on Wednesday, shrugging off weak global cues and Brent crude hovering near USD 102 a barrel, as selective buying in financials and oil & gas stocks offset broader caution," Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm, said.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index ended lower, while Japan's Nikkei 225 index settled in positive territory.
Markets in Europe were trading on a mixed note.
US markets in negative territory on Wednesday.
"Investors now await key US inflation data for cues on the rate trajectory," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 582.99 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex tanked 813.35 points, or 1.08 per cent, to settle at 74,764.23. The Nifty declined 203.60 points, or 0.86 per cent, to end at 23,431.50.
