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Sensex, Nifty Snap Five-day Losing Run
(RTTNews) - Indian shares ended slightly higher on Thursday to snap a five-day losing streak after Swiss regulators provided Credit Suisse, which is at the center of Europe's banking rout, a liquidity lifeline.
The benchmark S&P/BSE Sensex rose 78.94 points, or 0.14 percent, to 57,634.84, with a steep fall in oil prices overnight and gains in European markets helping offer some support.
The broader NSE Nifty index settled 13.45 points, or 0.08 percent, higher at 16,985.60 as hopes for a Fed pivot have led to a plunge in government bond yields,
The Federal Reserve is expected to pause or go slow on interest rate hikes when it publishes new projections for the future path of the U.S. benchmark rate next week.
A European Central Bank meeting is due later in the day, with analysts remaining divided over whether the central bank will agree a 25 or 50 basis point rise.
BPCL topped the gainers list to rally more than 6 percent after oil prices plunged overnight to reach their lowest level since December 2021.
Titan Company, Nestle India, Asian Paints and Hindustan Unilever all rose over 2 percent, while metals stocks such as JSW Steel, Tata Steel and Hindalco lost 2-5 percent on fears of a U.S. recession.
Patanjali Foods slumped 3 percent. The stock exchanges have frozen shares of promoter entities for not complying with the minimum public shareholding norm.
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