Stock markets end higher for 2nd day led by buying in blue-chips, foreign fund inflows

Mumbai, Jul 30 (PTI) Benchmark equity indices Sensex and Nifty ended higher on Thursday, driven by a rally in blue-chip stocks Reliance Industries, HDFC Bank and foreign fund inflows.

After a volatile day of trade, the 30-share BSE Sensex ended 273.55 points, or 0.35 per cent, higher at 77,928.15, helped by fag-end buying. During the day, it hit a high of 78,007.09 and a low of 77,440.91, gyrating 566.18 points.

The 50-share NSE Nifty went up by 66.95 points, or 0.28 per cent, to end at 24,317.15.

From the Sensex pack, Maruti, Mahindra & Mahindra, Reliance Industries, State Bank of India, HDFC Bank and Power Grid were among the major winners.

Adani Ports, InterGlobe Aviation, Bajaj Finserv and Bharat Electronics were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,981.87 crore on Wednesday, according to exchange data.

“The Fed’s decision to maintain the status quo on rates was largely anticipated, but hawkishness remained due to continued emphasis on inflation control. A sharp uptick in US bond yields signalled growing pressure for a possible rate hike in the near future, keeping global investors on edge, while renewed crude oil volatility amid West Asian tensions added to external uncertainty,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.

As a result, domestic equities stayed range-bound with sharp intraday swings, as investors weighed global headwinds against resilient domestic fundamentals, he said.

“Nonetheless, strengthening FII inflows, a firmer rupee, and encouraging Q1FY27 supported sentiment, prompting investors to treat dips as selective buying opportunities,” Nair added.

Brent crude, the global oil benchmark, climbed 0.45 per cent to USD 91.15 per barrel.

In Asian markets, South Korea’s KOSPI and Shanghai’s SSE Composite index ended lower, while Japan’s Nikkei 225 and Hong Kong’s Hang Seng index settled in positive territory.

European markets were trading higher. US markets ended significantly lower on Wednesday. The Sensex jumped 888.68 points, or 1.16 per cent, to settle at 77,654.60 on Wednesday. The Nifty climbed 264.85 points, or 1.10 per cent, to end at 24,250.20.