Delhi, 16 October (H.S.): The Indian stock market continued its bullish momentum for a second consecutive day on Thursday, with benchmark indices closing significantly higher. The BSE Sensex surged by 862 points, while the NSE Nifty climbed to close above the 25,585 mark, buoyed by strong foreign institutional investor (FII) inflows and positive global cues.

Market sentiment was bolstered by growing expectations of a potential policy rate cut by the US Federal Reserve, which fueled a rally in global markets. The 30-share BSE Sensex jumped 862.23 points, or 1.04%, to settle at 83,467.66. During the session, the index soared as high as 1,010.05 points.

Similarly, the 50-share NSE Nifty advanced 261.75 points, or 1.03%, to close at 25,585.30.Among the Sensex constituents, Kotak Mahindra Bank, Titan, Axis Bank, Adani Ports, Mahindra & Mahindra, Reliance Industries, Tata Motors, and HDFC Bank were the top gainers.

In contrast, HCL Technologies and Infosys were among the laggards. Over the last two trading sessions, the Sensex has gained more than 1,500 points, while the Nifty has risen by 1.9%.Broader Asian markets also finished on a strong note, with South Korea’s KOSPI rising 2.49%, Japan’s Nikkei climbing 1.27%, and China’s Shanghai Composite adding 0.10%. However, Hong Kong’s Hang Seng ended in the red. European markets were trading with a positive bias in afternoon deals.Meanwhile, the global oil benchmark, Brent crude, rose by 0.57% to $62.26 per barrel.

On the previous day, Wednesday, the Sensex had closed 575 points higher at 82,650, and the Nifty had ended the session with a gain of 178 points at 25,324.

Hindusthan Samachar / Jun Sarkar