Foreign investors bought ₹2,982 crore in Indian equities as Brent crude fell to $89.60. IT stocks led the Sensex higher despite a hawkish Fed pause.
Indian IT stocks led the Sensex and Nifty higher on Thursday, driven by a ₹2,982 crore foreign institutional inflow and a 1.26% drop in Brent crude to $89.60 a barrel.
The BSE Sensex rose 75.71 points to 77,726.62. The Nifty 50 added 26.90 points, settling at 24,275.85 in early trade.
Infosys, Tech Mahindra, HCL Tech, TCS, M&M and Sun Pharma were the biggest winners. Adani Ports, Asian Paints, Eternal and BEL lagged.
The buying extended a strong Wednesday session, when the Sensex jumped 888.68 points and the Nifty climbed 264.85 points.
Rajesh Palviya, head of research at Axis Direct, said the U.S. session set a mixed backdrop. The Dow fell 2.19%. The S&P 500 shed 1.52%, the Nasdaq 1.74%.
The Fed held rates steady. Three policymakers dissented in favor of a hike, pushing long-dated Treasury yields close to two-decade highs, Palviya said.
Asian markets were mixed. Japan's Nikkei rose. South Korea's KOSPI and Hong Kong's Hang Seng fell.
Foreign institutional investors bought ₹2,981.87 crore of Indian equities on Wednesday, exchange data showed. The drop in the global oil benchmark, tracked on the crude oil profile, supported the broader market.
Among the winners, Infosys carries an AlphaScala score of 57 out of 100, a Moderate rating. The INFY stock page has the full breakdown.
The Fed's hawkish hold and the FII inflow defined the session. IT stocks captured the bulk of the gains. Adani Ports and Asian Paints lagged.
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