Positive US cues continue to ignite mkts

Mumbai: Equity benchmark stock indices Sensex and Nifty closed higher for a second straight day on Thursday following gains in IT, tech and consumer durable shares amid a mixed trend in global equities. Softer-than-expected US inflation data and easing bond yields have also brought optimism in equity markets.

The 30-share BSE Sensex climbed 306.55 points or 0.47 per cent to settle at 65,982.48. During the day, it jumped 682.44 points or one per cent to 66,358.37. The Nifty gained 89.75 points or 0.46 per cent to 19,765.20.

“The Indian market continued its positive resurgence, tracking global gains. Softer-than-expected US inflation data and easing bond yields have bought optimism that spending will emerge like in technology. Taking the cues further, IT stocks showed a significant jump in the broader market. The market is sensing that export-based sectors like IT and pharma could be future winners. While cut in inflation will also benefit domestic placed staples and consumer sector,” said Vinod Nair, head (research), Geojit Financial Services.

Among the Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Bajaj Finance, NTPC, Mahindra & Mahindra and Bajaj Finserv were among the major gainers. Axis Bank, Power Grid, ITC and ICICI Bank were the major laggards.