Indian Equities Close Higher on IT Rally, Easing Crude Oil Prices

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Dalal Street ended Thursday on a bright note, with benchmark equity indices Sensex and Nifty closing nearly 1% higher. The momentum was buoyed by a sharp rally in IT stocks and easing crude oil prices as geopolitical tensions showed signs of cooling. The 30-share BSE Sensex gained 579.48 points, or 0.75%, to close at 77,502.12 after climbing as much as 656.29 points during the session. The NSE Nifty also advanced 169.85 points, or 0.71%, to finish at 24,175.70.

Improved investor sentiment, backed by gains in heavyweight technology shares, helped the market extend its upward momentum despite weakness in a few blue-chip stocks. Here are the gainers and losers on Sensex and Nifty50:

Top gainers of BSE Sensex

CompanyChangeClosing price (Rs)Infosys5.65%1,041Tech Mahindra4.34%1,421TCS4.32%2,068HCL Tech4.25%1,078Bajaj Finserv3.24%1,856Adani Ports SEZ1.90%1,883Titan Company1.88%4,481ICICI Bank1.47%1,400M&M1.46%3,175Tata Steel1.36%187.67

Top losers of BSE Sensex

CompanyChangeClosing price (Rs)L&T-0.82%4,059Axis Bank-0.45%1,363Reliance Industries (RIL)-0.35%1,304Maruti Suzuki-0.33%14,348Kotak Bank-0.29%399.30BEL-0.29%415.05ITC-0.14%289.90Eternal-0.04%279.60HDFC Bank-0.04%795.90

Top gainers of NSE Nifty50

CompanyChangeClosing price (Rs)Infosys5.65%1,041Tech Mahindra4.34%1,421TCS4.32%2,068HCL Tech4.25%1,078Bajaj Finserv3.24%1,856Wipro2.28%174.00Adani Ports SEZ1.90%1,883Titan Company1.88%4,481Shriram Finance1.78%1,067Eicher Motors1.56%7,250

Top losers of NSE Nifty 50

CompanyChangeClosing price (Rs)Max Healthcare-1.10%1,127L&T-0.82%4,059Tata Motors PV-0.54%345.95Nestle India-0.53%1,446Axis Bank-0.45%1,363SBI Life-0.37%1,784Reliance Industries (RIL)-0.35%1,304Maruti Suzuki-0.33%14,348Kotak Bank-0.29%399.30BEL-0.29%415.05

Meanwhile in commodity market, brent crude, the global oil benchmark, slipped 1.45% to $70.53 per barrel, while domestic equities found support from easing oil prices and fresh strategic agreements between India and Japan. Investor sentiment also received a boost after the two countries announced a series of initiatives, including an economic partnership framework, a defence pact for co-developing military hardware, a declaration on economic security, a joint statement on artificial intelligence cooperation and an agreement to strengthen the energy supply chain.

"Indian equities extended their winning streak despite pressure in global markets, where technology stocks dragged overseas indices lower. Easing energy prices and fresh India-Japan agreements in strategic areas such as AI, defence technology and energy security helped sustain domestic market optimism," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, told PTI. Ajit Mishra, SVP-Research, Religare Broking Ltd, also added that the recovery in IT stocks helped drive the market higher, although profit booking in banking shares and other heavyweight stocks restricted the overall gains. "The rebound in the IT pack further strengthened sentiment after the sector witnessed sharp selling in recent sessions. However, profit booking in the banking pack and select heavyweight stocks from other sectors capped the pace of the rally," Mishra said.

Across Asia, South Korea's Kospi fell 7.89%, Japan's Nikkei 225 declined 2.47% and Shanghai's SSE Composite dropped 2.03%, while Hong Kong's Hang Seng ended 0.76% higher. European markets were trading in positive territory, while US markets had closed lower on Wednesday.