Sensex soars 1,534 points as easing crude sparks broad rally
The BSE Sensex closed at 74,315.61 and the Nifty at 22,997.35 on Thursday as softer crude prices calmed inflation worries.
Indian stock markets ended sharply higher on Thursday, with the BSE Sensex surging 1,533.72 points, or 2.11%, to close at 74,315.61. The NSE Nifty 50 gained 374.65 points, or 1.66%, to settle at 22,997.35.
The rally was driven by easing crude oil prices, which reduced concerns over inflation, import costs and pressure on the rupee. Heavyweight stocks including Tech Mahindra, ICICI Bank and Bharti Airtel led the buying, and the IT sector posted strong gains.
The rebound was not uniform across the market: the Nifty MidCap slipped 0.36% and the SmallCap fell 1.31%, showing that broader-market caution persists. The Nifty briefly crossed 23,000 intraday, and analysts now see 23,000-23,100 as immediate resistance, with 22,800 as near-term support.
