Sensex gains 156 points, led by metals, IT and capital goods amid foreign capital inflows

• Among Sensex stocks, Tata SteelLarsen & Toubro, ICICI Bank, HCL Technologies, infosys and Axis Bank were among the winners.
• Bharti Airtel, Hindustan Unilever, IndusInd Bank, HDFC and Bajaj Finance were among the laggards.
• The market was also supported by expectations for the Q2 results session, with improvement in sectors such as metals, IT and real estate.

Benchmark BSE Sensex rose 156 points while the useful closed above the 17,300 level on Thursday after gains in metals, IT and capital goods stocks amid foreign capital inflows. The 30-stock BSE benchmark rose 156.63 points or 0.27 percent for the second consecutive session to settle at 58,222.10.

The index opened higher and later rose 513.29 points or 0.88 percent to its day-long high of 58,578.76 thanks to gains in metals, FMCG, IT and oil stocks. However, profit postings in select bank and teck stocks in the closing session wiped out the gains.

the wider NSE Nifty rose 57.50 points or 0.33 percent to end at 17,331.80 as 27 of its shares ended in the green.

Among the Sensex shares, Tata Steel, Larsen & Toubro, ICICI Bank, HCL Technologies, Infosys and Axis Bank were among the winners.

However, Bharti Airtel, Hindustan Unilever, IndusInd Bank, HDFC and Bajaj Finance were among the laggards.

Vinod NairoHead of Research at Geojit Financial Services said: “The Indian market maintains its resilience despite mixed signals from global equities and rising oil prices. Both domestic and foreign investors are supporting the rally.”

The market was also supported by expectations from the Q2 results session, with improvement in sectors such as metals, IT and real estate, Nair added.

“Weakness in European indices and SGX Nifty slipping into the red prompted investors to lower their bullish bets. But key domestic benchmarks still ended in the green thanks to traders betting heavily on IT, metals and real estate stocks.

“However, concerns about inflation around the world and ongoing central bank interest rate hikes have shocked markets and led investors on a leash over concerns about a global slowdown,” he said. Shrikant Chouhansaid head of Equity Research (Retail), Kotak Securities Ltd.

In the broader market, the BSE small-cap index rose 1.30 percent and the mid-cap index rose 1.13 percent.

Of the BSE sector indices, metal rose 3.89 percent, capital goods (2.34 percent), real estate (2.15 percent), industrials and services (1.96 percent), commodities (1.67 percent) and energy ( 1.61 percent).

FMCG and telecommunications were the laggards.

Elsewhere in Asia, markets in Seoul and Tokyo closed higher, while Shanghai and Hong Kong finished lower.

Stock markets in Europe traded in negative territory during mid-session deals. US stocks closed slightly lower on Wednesday.

Domestic stock markets were closed on Wednesday due to the Dussehra festival.

In the previous session on Tuesday, the BSE benchmark was up 1,276.66 points or 2.25 percent to settle at 58,065.47. The Nifty collected 386.95 points or 2.29 percent to finish at 17,274.30 points.

Meanwhile, the international oil benchmark Brent oil futures climbed 0.14 percent to 93.50 a barrel.

Foreign institutional investors were net buyers as they bought shares worth Rs 1,344.63 crore on Tuesday, according to data available from BSE.

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