Mumbai, May 29
The Indian stock market closed in green on Thursday amid positive global cues. Sensex closed 320.70 points or 0.39 per cent up at 81,633.02 while Nifty ended up 81.15 points or 0.33 per cent at 24,833.60.
Buying was seen in midcap and smallcap along with largecap. Nifty Midcap 100 index was up 315.85 points or 0.55 per cent at 57,457.25 and Nifty Smallcap 100 index was up 105.40 points or 0.59 per cent at 17,889.
On a sectoral basis, metal, IT, financial services, realty, media and energy indices were in the green, while, PSU Bank, FMCG and PSE sectors were in the red.
“Global sentiment improved after a US court struck down Donald Trump’s reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10-year bond yields,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Some recovery was seen toward the end of the session, driven by F&O expiry led covering.
“Export-focused sectors like IT and Pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation,” he mentioned.