Sensex, Nifty Extend Gains for Fifth Straight Session

Indian equity markets closed higher for the fifth consecutive session, supported by falling crude oil prices and sustained buying by foreign investors. Buying activity was strong across most sectors, with IT stocks being the notable exception. FMCG, real estate and metal shares led the gains, while the Nifty Smallcap index advanced 2% and the Midcap index rose 1.55%.

The Sensex opened lower at 76,853.11 against its previous close of 76,917.85, but soon moved into positive territory. Despite briefly slipping into the red during afternoon profit-booking, it recovered to close 383.55 points higher at 77,301.40. The Nifty gained 86.95 points to settle at 23,897.80. The rupee traded at 94.64 against the US dollar. BEL, Titan, IndiGo, Bajaj Finance and ITC were among the major gainers on the Sensex, while TCS, HCL Technologies, Infosys, Eternal and Kotak Mahindra Bank ended lower. Internationally, Brent crude traded at around $102 a barrel, while gold stood at $4,046 an ounce.