Mumbai

Snappingtheir three-session losing streak, benchmark indices Sensex and Nifty edged higher on Thursday amid fag-end stock-specific buying despite the cautious market undertone. However, elevated crude oil prices above the $100-per-barrel mark, amid persistent geopolitical tensions, kept risk appetite subdued throughout the day, traders said. The market remained range-bound for the most part of the session as investors kept their exposure lower.

The 30-share BSE Sensex advanced 138.36 points, or 0.19 per cent, to settle at 74,902.59 on last-minute buying. During the day, it hit a high of 74,910.96 and a low of 74,598.47. The 50-share NSE Nifty edged higher by 46.30 points, or 0.20 per cent, to end at 23,477.80.

“Indian equities ended marginally higher on Thursday, shrugging off weak global cues and Brent crude hovering near $102 a barrel, as selective buying in financials and oil & gas stocks offset broader caution,” Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm, said.

Among the 30 Sensex firms, Power Grid, Axis Bank, UltraTech Cement, NTPC, Tech Mahindra, Bharti Airtel, HDFC Bank, and Larsen & Toubro were the major winners. HCL Tech, Tata Steel, Trent, and ITC were among the laggards.

The BSE SmallCap Select index was up 0.16 per cent, while the MidCap Select index dipped 0.34 per cent. Among the BSE sectoral indices, Insurance climbed 0.58 per cent, Top 10 Banks (0.52 per cent), Bankex (0.36 per cent), Private Banks index (0.35 per cent), Financial Services (0.34 per cent) and PSU Bank (0.32 per cent). Capital Goods declined 0.99 per cent, Telecom-munication (0.91 per cent), Metal (0.67 per cent) and Hospitals (0.48 per cent).

“Indian equity markets ended on a resilient note, trading within a narrow range after three con-secutive sessions of sharp declines. Investors are closely watching upcoming US inflation data, which could shape expectations for the Federal Reserve’s policy path and provide fresh direc-tion for global equities, bond yields and emerging-market currencies,” Ponmudi R, CEO of En-rich Money, an online trading and wealth tech firm, said.

“Investors now await key US inflation data for cues on the rate trajectory,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 582.99 crore on Wednesday, according to exchange data. On Wednesday, the Sensex tanked 813.35 points, or 1.08 per cent, to settle at 74,764.23. The Nifty declined 203.60 points, or 0.86 per cent, to end at 23,431.50.