D-Street up for 7th session, Sensex reclaims 80,000
The NSE Nifty gained 0.67%, or 161.7 points, to finish at 24,328. The BSE Sensex moved 0.65% or 520.9 points higher at 80,116. Both indices have surged over 8.3% each in the past seven trading sessions. This is their longest winning run in a month.
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Mumbai: India's equity indices rose 0.7% on Wednesday - extending gains to the seventh straight trading session with the Sensex closing above 80,000 for the first time since December, driven by gains in Information Technology (IT) stocks.The NSE Nifty gained 0.67%, or 161.7 points, to finish at 24,328. The BSE Sensex moved 0.65% or 520.9 points higher at 80,116. Both indices have surged over 8.3% each in the past seven trading sessions. This is their longest winning run in a month.Other Asian markets rose after US President Donald Trump indicated that final tariffs on Chinese exports to the US won't be as high as 145%, raising expectations that the tensions between Washington and Beijing would ease soon. Taiwan jumped 4.5% and Hong Kong rose 2.4%. Japan climbed 1.9%, and South Korea and Indonesia advanced around 1.5% each. China declined 0.10%.At home, foreign portfolio investors (FPIs) bought shares worth a net ₹3,332.9 crore on Wednesday. Their domestic counterparts sold shares worth ₹1,234.5 crore. In the last six trading sessions, overseas investors have pumped ₹21,614 crore of equities into India. Overseas investors, however, remain net sellers of ₹12,690 crore in April.The change in direction of foreign flows in the recent sessions has led the large-cap heavyweight stocks higher, said Palak Shah, VP - Institutional Sales, PL Capital."From the current levels, an upside potential of 8% to 10% exists for the benchmark indices."The Nifty IT Index surged 4.3% on Wednesday after better-than-expected FY26 revenue guidance from HCL Technologies "Foreign investor holdings in the IT sector are at multi-year lows and given the sharp correction in the sector this year, current valuations in IT appear attractive," said Saurabh Patwa, head of research at Quest Investment Advisors.The Nifty Auto Index gained 2.4% with Tata Motors surging 4.4% and M&M advancing 3%. Bank Nifty rose as much as 0.8% during the session but pared gains and closed 0.5% lower.The Nifty Mid-cap 150 index and the Small-cap 250 index rose 1% and 0.3%, respectively. Out of the 4,106 shares traded on BSE, 2,028 advanced, while 1,949 declined.In the past week, the mid-cap and small-cap indices advanced 4.7% and 3.5%, respectively.
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