Sensex Climbs 274 Points, Nifty Closes Above 24,300; FII Inflows, IT Rally Lift Markets

Synopsis: Indian benchmark indices ended higher on Thursday, supported by sustained foreign institutional buying, strong gains in IT stocks, and easing crude oil prices. The benchmark equity indices Sensex and Nifty finished in positive territory on Thursday amid buying in heavyweight stocks and continued foreign fund inflows. After a volatile trading session, the Sensex gained 273.55 points (0.35%) to close at 77,928.15. The index touched an intraday high of 78,007.09 and a low of 77,440.91, swinging over 566 points during the session. The Nifty 50 advanced 66.95 points (0.28%) to settle at 24,317.15. Key factors driving the market rally: IT stocks extend rally: The Nifty IT index advanced further, taking its weekly gain to nearly 10% and its July rally to around 20%, putting the sector on track for its strongest monthly performance in six years. Investors rotated into IT stocks as enthusiasm for AI-linked companies eased globally, while India's limited exposure to semiconductor and pure-play AI firms made the market relatively resilient. Strong FII buying: Foreign Institutional Investors (FIIs) remained net buyers, purchasing equities worth ₹2,981.87 crore on Wednesday. Persistent overseas inflows boosted liquidity and reinforced confidence in Indian equities. Lower crude oil prices: Brent crude declined 1.26% to $89.60 per barrel. Softer oil prices are supportive for India's economy, as lower import costs help ease inflationary pressures and improve the macroeconomic outlook. Investment in securities market are subject to market risks. Read all the related documents carefully before investing,