Stock Markets Surge for the Sixth Consecutive Day

Indian stock markets continued their winning streak for the sixth consecutive session, opening Thursday’s trade with strong gains. Positive global developments, US political developments and a sharp decline in crude oil prices boosted investor sentiment. At 9:16 a.m., the BSE Sensex surged 1,367.69 points, or 1.77 per cent, to 78,669.09. Meanwhile, the NSE Nifty gained 379.25 points, or 1.58 per cent, to trade at 24,339.85. Buying activity was strong from the opening bell, helping both benchmark indices register significant gains.

The fall in international crude oil prices by more than 8 per cent provided additional support to the domestic market. Lower oil prices are expected to reduce India's import expenses and ease inflationary pressures. The auto sector emerged as a major attraction, with the automobile index rising 2.5 per cent. Maruti Suzuki, InterGlobe Aviation, Shriram Finance, Asian Paints and Bajaj Finance attracted buying interest. However, Dr. Reddy's Laboratories, Cipla, Coal India and Bharti Airtel traded with slight losses.