Sensex, Nifty Finish Marginally Higher After Three Days Of Losses

Indian shares ended a choppy session slightly higher on Thursday, snapping a three-session losing streak.

While gains in rupee and falling oil prices offered some support, mixed corporate earnings from top U.S. companies and uncertainty over the path of U.S. monetary policy served to keep underlying sentiment somewhat cautious.

The benchmark S&P/BSE Sensex settled 64.55 points, or 0.11 percent, higher at 59,632.35 while the broader NSE Nifty index inched up 5.70 points, or 0.03 percent, to close at 17,624.45.

Bajaj Auto, Asian Paints, Adani Ports and NTPC all ended up over 1 percent.

Tata Motors rose 1.3 percent after its British unit Jaguar Land Rover unveiled plans to invest 15 billion pounds ($18.65 billion) over the next five years to expand its electric-vehicle offerings.

Divis Laboratories slumped 4 percent to lead losses in the Nifty pack, while Hindalco, Eicher Motors, Dr Reddy’s Laboratories and Hindustan Unilever all fell over 1 percent.

HCL Technologies finished marginally lower ahead of its earnings release later in the day.

The rupee traded up to halt a three-day losing run, while oil prices were down about 2 percent in European trade, extending losses from the previous session on fears that more U.S. interest-rate hikes could curb energy demand in the world’s top consumer.

Market Analysis