Stock markets extend gains for fifth day; Sensex revisits 66,000 mark

During the day, Sensex hit a low of 65,672.34 and a high of 66,296.90; Nifty advanced 116 points to settle at 19,727.05

September 07, 2023 04:37 pm | Updated 04:37 pm IST - Mumbai

Stock brokers watch the markets, at a brokerage in Kolkata. Representational image.

Stock brokers watch the markets, at a brokerage in Kolkata. Representational image. | Photo Credit: ANI

Equity benchmark Sensex climbed over 385 points to reclaim the 66,000 mark on Thursday (September 7), propelled by robust buying in index majors HDFC Bank, L&T and SBI amid a weak trend in global equities.

A decline in crude oil prices in the international market also supported the domestic equities, traders said.

Rising for the fifth straight day, the BSE Sensex recovered all the early lost ground and finally closed with a gain of 385.04 points or 0.58% at 66,265.56. During the day, it hit a low of 65,672.34 and a high of 66,296.90.

The Nifty advanced 116 points or 0.59% to settle at 19,727.05.

From the Sensex pack, Larsen & Toubro jumped 4.26% to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro.

Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended lower.

European markets were trading in the green in early deals. The US markets ended in negative territory on Wednesday.

Global oil benchmark Brent crude declined 0.72% to $89.95 a barrel.

"The domestic market initially opened with a lacklustre performance, influenced by weak global cues. However, as the day progressed, a decline in U.S. bond yields and crude oil prices injected some positivity into the market.

"This optimism was most prominent in banking stocks. Interestingly, mid-and small-cap stocks managed to retain investor interest even though their valuations are relatively high. Nonetheless, the persistently weak trade data from China continues to cast a shadow over the global market's outlook," said Vinod Nair, Head of Research at Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,245.86 crore on Wednesday, according to exchange data.

In the previous session on Wednesday, fag-end buying helped the BSE benchmark climb 100.26 points or 0.15% to settle at 65,880.52. The Nifty advanced 36.15 points or 0.18% to end at 19,611.05.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.