Indices snap four-day losing streak as oil prices ease, positive global cues

Indian benchmark indices ended higher, snapping a four-day losing streak as easing oil prices and positive global cues helped lift the market.

Benchmarks close higher

The Sensex gained 472.77 points, or 0.66%, to close at 72,382.47. The Nifty 50 advanced 133.80 points, or 0.6%, and settled at 22,555.75.

The gains marked a clear reversal from the previous four sessions, during which both indices had declined. The session’s advance placed the focus on the recovery in the two key Indian equity benchmarks.

Market direction

Easing oil prices were among the factors supporting the day’s move, while positive global cues also provided a favourable backdrop for trading. The available information does not identify specific sectors or individual stocks behind the rise.

The closing figures show the extent of the rebound: the Sensex added nearly 473 points, while the Nifty gained more than 133 points. Both benchmarks finished with gains of less than 1%.

What the session shows

The market’s advance ended a four-session decline and restored upward movement to the headline indices for the day. Further details on the durability of the recovery, sector performance or future market direction were not provided.

For now, the key developments were the break in the losing streak, the easing in oil prices and the support from global market cues.