Sensex, Nifty End Higher After Four-Day Losing Streak Amid Easing Oil Prices

Indian stock markets ended marginally higher on Wednesday, putting an end to a four-day losing streak amid easing crude oil prices and cautious investor sentiment.

The recovery came despite ongoing geopolitical uncertainty and concerns over inflationary pressures linked to rising commodity prices.

During the trading session, the BSE Sensex touched an intraday high of 75,191.57 and a low of 74,134.48 before settling 49.74 points higher at 74,608.98.

Similarly, the NSE Nifty gained 33.05 points to close at 23,412.60.

Among Sensex stocks, Asian Paints, Tata Steel, Adani Ports, Bharat Electronics, Bharti Airtel, and Larsen & Toubro emerged as the top gainers.

On the other hand, shares of Mahindra & Mahindra, Infosys, Tata Consultancy Services (TCS), Sun Pharma, and Tech Mahindra ended lower.

According to market data, foreign institutional investors (FIIs) sold equities worth Rs. 1,959.39 crore on Tuesday, continuing the trend of foreign fund outflows.

After two consecutive sessions of heavy selling, Indian equities witnessed relatively stable trading and managed to close in positive territory.

Investor sentiment was also influenced by India’s latest retail inflation data released on Tuesday. The data showed that retail inflation rose to 3.48 percent in April, mainly due to higher prices of gold and silver jewellery as well as certain kitchen and household items.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite Index, and Hong Kong’s Hang Seng Index all ended higher.

European markets traded on a mixed note, while US markets had mostly ended lower in the previous session.

Meanwhile, global Brent crude oil prices eased slightly by 0.5 percent and were trading around $107.27 per barrel, offering some relief to investors after recent sharp increases in oil prices.