Mumbai: Sensex Ends Positive After 5-Day Decline

The domestic equity market on Thursday snapped its five-day losing streak as the benchmark Sensex recouped its lost ground, closing 78 points higher. This rebound was driven by value buying in banking, energy, and financial stocks. A positive opening in the European market also helped boost investor sentiment, despite concerns over the global banking system due to Credit Suisse's troubles and bank failures in the US.

The 30-share BSE benchmark rose 78.94 points or 0.14 per cent to close at 57,634.84 points, with 17 of its constituents ending in the green. During the session, it touched a high of 57,887.46 points and a low of 57,158.69 points. The 50-share NSE Nifty advanced 13.45 points or 0.08 per cent to settle at 16,985.60 points, with 32 stocks closing in the green.

Nestle India was the biggest gainer in the Sensex pack, rising 2.54 per cent, followed by Asian Paints, HUL, Titan, Sun Pharma, SBI, PowerGrid, and Bajaj Finserv. On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech, and Reliance were among the losers, slipping up to 3.31 per cent.

In Asian markets, Shanghai, Tokyo, Hong Kong, and Seoul ended with significant losses. European stock markets, however, marched higher in early trade on Thursday after embattled lender Credit Suisse announced its plans to boost liquidity.

Credit Suisse has said that it will borrow funds from the Swiss central bank and buy back about USD 3 billion of its debt to help mitigate the growing crisis around it. Major indices on Wall Street settled on a mixed note in the overnight trade. Meanwhile, the rupee declined 13 paise to close at 82.78 against the US dollar on Thursday. Foreign Portfolio Investors (FPIs) offloaded shares worth Rs 1,271.25 crore on Wednesday, according to exchange data.