Sensex, Nifty snap 4-day losing streak on global cues; Sensex soars 362.57 points

The domestic equity benchmark indices recovered on Friday to snap their fourday losing streak on positive global cues as concerns over a US Federal Reserve rate hike eased although the renewed tensions between USA and Iran made investors cautiousMarket movementThe 30share BSE Sensex advanced 36257 points or 048 per cent to settle at 7651543 The 50share NSE Nifty too traded in the positive territory climbing 2425 points or 010 per cent to end at 2389770Indian benchmark indices ended marginally higher snapping a foursession losing streak supported by positive global cues after US Fed Governor Christopher Waller indicated that he would support keeping interest rates unchanged at the next policy meeting However the initial optimism faded as the Nifty touched an intraday high near the 24000 mark before witnessing profit booking and closing near the lower end of the days range Pabitro Mukherjee Deputy Vice President Research Bajaj Broking saidAmong the 30 Sensex constituents 20 ended higher Tata Steel Reliance Industries Bajaj Finance Trent Adani Ports HDFC Bank were the major gainers while Bharti Airtel HCL Technologies Eternal Asian Paints Tata Consultancy Services Tech Mahindra were among the laggardsAccording to Vinod Nair Head of Research at Geojit Investments on the domestic front stock and sectorspecific buying remained evident across the broader market with smallcap indices touching fresh intraday lifetime highsStrong earnings momentum resilient economic growth and robust domestic demand continue to underpin investor confidence in the broader market he saidOn Thursday paring their early gains the 30share Sensex declined 41749 points or 055 per cent to close at 7615286 while the 50share Nifty dipped 41 points or 017 per cent to settle at 2387345Global cuesAccording to news agency PTI Brent crude the global oil benchmark fell 040 per cent to USD 9514 per barrelIndian equities witnessed a relief rally as concerns over an imminent US Fed rate hike eased However gains remained capped due to profit booking at higher levels and persistent geopolitical tensions in the Middle East Nair saidIn Asian markets Hong Kongs Hang Seng rose 174 per cent South Koreas KOSPI advanced 164 per cent and Japans Nikkei 225 settled 128 per cent higher Shanghais SSE Composite index ended 030 per cent lower as per PTIForeign Institutional Investors FIIs sold equities worth Rs 234587 crore on Thursday while Domestic Institutional Investors DIIs remained net buyers buying equities worth Rs 497746 crore as per PTIWith inputs from PTI