AGL 6.80 No Change ▼ 0.00 (0%)
ANL 9.40 Increased By ▲ 0.18 (1.95%)
AVN 78.12 Increased By ▲ 3.92 (5.28%)
BOP 5.40 Decreased By ▼ -0.03 (-0.55%)
CNERGY 4.85 Decreased By ▼ -0.04 (-0.82%)
EFERT 78.00 No Change ▼ 0.00 (0%)
EPCL 55.80 Increased By ▲ 1.10 (2.01%)
FCCL 15.19 Increased By ▲ 0.26 (1.74%)
FFL 6.32 Decreased By ▼ -0.02 (-0.32%)
FLYNG 7.10 Decreased By ▼ -0.02 (-0.28%)
GGGL 10.35 Decreased By ▼ -0.21 (-1.99%)
GGL 16.31 Decreased By ▼ -0.12 (-0.73%)
GTECH 8.18 Decreased By ▼ -0.03 (-0.37%)
HUMNL 6.39 Increased By ▲ 0.04 (0.63%)
KEL 2.92 Decreased By ▼ -0.03 (-1.02%)
LOTCHEM 28.95 Increased By ▲ 0.35 (1.22%)
MLCF 27.45 Decreased By ▼ -0.35 (-1.26%)
OGDC 75.20 Decreased By ▼ -0.10 (-0.13%)
PAEL 15.95 Increased By ▲ 0.15 (0.95%)
PIBTL 5.55 Decreased By ▼ -0.05 (-0.89%)
PRL 16.91 Decreased By ▼ -0.31 (-1.8%)
SILK 1.07 Increased By ▲ 0.01 (0.94%)
TELE 10.70 Increased By ▲ 0.40 (3.88%)
TPL 7.97 Decreased By ▼ -0.03 (-0.38%)
TPLP 20.83 Increased By ▲ 0.03 (0.14%)
TREET 23.00 Increased By ▲ 0.40 (1.77%)
TRG 128.70 Decreased By ▼ -0.15 (-0.12%)
UNITY 23.35 Increased By ▲ 0.85 (3.78%)
WAVES 11.54 Decreased By ▼ -0.46 (-3.83%)
WTL 1.11 Decreased By ▼ -0.02 (-1.77%)
BR100 4,113 Increased By 13.3 (0.32%)
BR30 15,595 Increased By 61.9 (0.4%)
KSE100 41,212 Increased By 83 (0.2%)
KSE30 15,410 Increased By 73.2 (0.48%)
Follow us

BENGALURU: A rally in energy and technology stocks propelled Indian shares to a firmer finish on Thursday, ending a four-session losing streak driven by worries around aggressive policy tightening by global central banks.

Notching their best session since the turn of the month, the NSE Nifty 50 index settled 0.74% higher at 16,478.10 and the S&P BSE Sensex rose 0.78% to 55,320.28.

Both the indexes have been buffeted in recent weeks by fears that aggressive tightening of monetary policy to combat stubborn inflation could stifle economic growth.

In a widely expected move on Wednesday, the Reserve Bank of India raised its key rate by 50 basis points after an off-cycle hike last month and signalled further tightening ahead.

Leading the gains on Thursday, energy stocks on the Nifty Energy jumped 1.2% as crude prices advanced on robust trade data from major oil consumer China.

The technology, pharma and infrastructure sub-indexes all closed up roughly 1% each. Real estate stocks, which had declined as much as 1.4% earlier in the session, closed up 0.26%.

“As long as nothing decisive is happening globally, we will continue to trade in a tight range and likely see more sector-specific moves, instead of major moves by benchmarks,” said Ajit Mishra, vice president, research at Religare Broking.

Globally, equities were lower ahead of a meeting of the European Central Bank where the ECB is expected to signal it is ready to raise interest rates for the first time in a decade.

Comments

Comments are closed.