Sensex Rises Over 350 Points, Nifty Trades Above 24,100 on Positive Global Cues

Mumbai, July 2 (Forever News): Indian benchmark equity indices traded higher on Thursday, extending their gains for a second consecutive session, supported by easing crude oil prices, positive global market sentiment and sustained buying in information technology and banking stocks.

Sensex Rises Over 350 Points, Nifty Trades Above 24,100 on Positive Global Cues.

The BSE Sensex gained more than 350 points during intra-day trade to move above the 77,300 mark, while the NSE Nifty50 crossed 24,100 as investors remained optimistic amid improving global cues.

Market sentiment was buoyed after international crude oil prices slipped below the $70-per-barrel mark, easing concerns over inflationary pressures and India’s import bill. Reports indicating progress in diplomatic talks in West Asia also helped improve investor confidence and supported equity markets worldwide.

Information technology stocks emerged among the top gainers, with leading companies witnessing healthy buying. Banking and financial stocks also traded in positive territory, contributing to the broader market rally. Auto and FMCG shares were among the other sectors that registered gains during the session.

Analysts said the decline in crude oil prices has improved the outlook for the Indian economy by reducing input cost pressures. However, they cautioned that foreign institutional investor (FII) activity and global economic developments would continue to influence market direction in the coming sessions.

Broader markets also remained firm, with the BSE MidCap and SmallCap indices trading in positive territory, reflecting continued buying interest across sectors.

Market participants will now closely monitor upcoming corporate earnings for the June quarter, domestic macroeconomic data and global developments for further cues.