Sensex snaps 3-day losing run, ends 503 pts higher; Nifty tops 16,150 on F&O expiry

The Dalal Street bulls were back in action on Thursday as benchmark indices witnessed a turnaround to end with decent gains.

After a three day slide, the 30-share pack Sensex outperformed global peers and rose 503.27 points or 0.94 per cent to close at 54,321.87. Its broader peer, Nifty50, also added 144.35 points or 0.9 per cent to close comfortably above the 16,500 mark.

Buying was seen in beaten-down sectors like IT and banking, with Wipro, TCS, and Tech Mahindra rising around 2 per cent each, while Bank of Baroda, SBI, AU Bank and Bandhan Bank added between 3-5 per cent each.


The Nifty IT index rose 1.52 per cent after two straight sessions of losses, while finance and banks gained around 2 per cent. However, all sectoral indices have declined in May. The Nifty50 has declined over 5 per cent to the worst since September 2020.

Sentiment also improved after minutes from the US Federal Reserve's May 3-4 meeting gave no signals that officials could turn more hawkish soon to fight inflation and were backing half-percentage-point rate hikes in June and July, largely in line with expectations.

Markets at a glance:
-Tata Steel rose 5% after 2-day rout in steel stocks
-InterGlobe Aviation surged 10% on plans to hike fares
-Torrent Pharma added over 10% after bonus issue, brokerage update
-HDFC gained over 3% after firm completed divestment of 2.35 lakh shares of HDFC Cap Advisors
-Jubilant FoodWorks also rose 5% after Jefferies upgraded stock to buy

Index Stats
38 of 50 Nifty stocks closed in the black. Tata Steel, Apollo Hospitals, JSW, SBI, HDFC Bank were top gainers, while ITC, UPL, Divi’s Labs, Sun Pharma and Reliance Industries led the losers pack.

Mid- and small-cap shares also finished on a strong note as Nifty Midcap100 climbed 1.35 per cent and small-cap moved 0.77 per cent higher.

Market breadth turned in favour of advances, advance-decline ratio was at 5:4, according to BSE.

About 1,748 shares advanced, 1,552 shares declined and 129 shares remained unchanged. 49 stocks tested their 52-week highs during the session, whereas 246 others tested their 52-week lows. 11 stocks hit their upper circuit limit, while 5 stocks were locked in the lower circuit.