Indian benchmark indices closed higher on Thursday, driven by continued buying in information technology (IT) stocks, sustained inflows from foreign institutional investors (FIIs), and a significant easing of crude oil prices. The Sensex gained 273.55 points, or 0.35%, to settle at 77,928.15, while the Nifty 50 advanced 66.95 points, or 0.28%, to close at 24,317.15.
Brent crude oil prices played a crucial role, falling 1.26% to $89.60 per barrel. This decline provided significant relief to domestic markets by alleviating concerns about inflation, India's substantial import bill, and corporate input costs. The combination of lower crude prices and continued foreign investment helped to offset global uncertainties stemming from elevated US bond yields and ongoing geopolitical tensions.
Foreign institutional investors remained net buyers for another session, purchasing equities valued at ₹2,981.87 crore ($356.6 million). This sustained foreign interest, alongside the positive performance of IT stocks, contributed to the overall optimistic sentiment in the Indian market. Despite these positive movements, investors maintained a cautious stance concerning the US Federal Reserve's hawkish outlook and the persistent geopolitical tensions in West Asia.
