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Closing Bell: Sensex, Nifty close higher; midcaps, smallcaps underperform

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The Indian equity benchmark indices closed higher Thursday after four sessions of continuous losses. Among the 50 stocks on Nifty, Bajaj finance, Infosys, BPCL, Titan, Wipro led the gains, as each scrip rose over 1 to 2.5 percent.

Closing Bell: Sensex, Nifty close higher; midcaps, smallcaps underperform
The Indian equity benchmark indices closed higher Thursday after four sessions of continuous losses. The 30-scrip Sensex closed at 57,901, as it rose 113 points and the Nifty50 index surged 27 points to end at 17,248. The broader markets underperformed the headline indices as both smallcaps and midcaps declined over half a percent.
Among the 50 stocks on Nifty, Bajaj finance, Infosys, BPCL, Titan, Wipro led the gains, as each scrip rose over 1 to 2.5 percent. Leading the losses were Hindalco, Cipla, Maruti, Sun Pharma, and Hero Moto.
Among sectors on NSE, a strong rally was seen in IT, consumer durables, and oil & gas sectors. The media sector closed over 1.5 percent lower and Nifty Bank, Auto, Pharma declined over half a percent.
Globally, world stocks rallied as investors digested Federal Reserve's decision to increase interest rates thrice in 2022. The pan-European STOXX 600 index rose over 1 percent. Nasdaq futures and S&P 500 futures were creeping up, rising over half a percent.
MSCI's broadest index of Asia-Pacific shares outside Japan was up over half a percent. Japan's Nikkei added 2 percent, and Chinese stocks gained over half a percent.
Over in commodities, oil prices edged higher with brent crude creeping to $75. At the last count, US oil was up over 1 percent to $71.63 and brent crude rose over 1 percent to $74.58.
With inputs from Reuters
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