NEW DELHI: Equity indices surged for the third straight session on Thursday led by gains in metal and FMCG stocks.
The 30-share BSE index jumped 817 points or 1.5 per cent to close at 55,464; while, the broader NSE Nifty settled 250 points or 1.53 per cent higher at 16,595.
Top gainers in the sensex pack included HUL, Tata Steel, SBI and Axis Bank with their shares rising as much as 5.17 per cent.
While, Tech Mahindra, Dr Reddy's and TCS were the only losers falling up to 1.48 per cent.
On the NSE platform, sub-indices Nifty FMCG, Metal, PSU Bank and Realty gained as much as 3.03 per cent.
According to experts, investors have been widely eyeing election results as it is expected to set the tone for general elections in 2024.
Besides, oil prices fell the most in nearly two years on Wednesday as the market contemplated whether major producers would boost supply into a market roiled by supply disruptions due to sanctions on Russia. Prices were last up 3.18 per cent at $114.67 a barrel.
"Global sentiments are helping us and there is some calmness with the cool-off in commodities and oil prices. I think things are settling down a bit and markets are trying to find their equilibrium," Saurabh Jain, assistant vice president at SMC Securities told news agency Reuters.
Meanwhile, foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 4,818.71 crore on a net basis on Wednesday, according to exchange data.
(With inputs from agencies)
