Sensex, Nifty end marginally higher; banking, metal stocks shine

The S&P BSE Sensex added 144.31 points to close at 81,611.41, while the NSE Nifty50 gained 16.50 points to end at 24,998.45. 

Benchmark stock market indices closed marginally higher on Thursday, on hope of further rate cuts by the US Federal Reserve following the recent Federal Reserve meeting. The rate cut could lead to increased foreign investments in emerging markets, enhancing overall market sentiment.

The S&P BSE Sensex added 144.31 points to close at 81,611.41, while the NSE Nifty50 gained 16.50 points to end at 24,998.45.

Vinod Nair, Head of Research, Geojit Financial Services said that the market traded on a range bound trend with a negative bias ahead of the start of Q2 result.

"The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key US inflation data, global bond yields are rising. Domestic broader market momentum was mixed with caution as the initial expectation of Q2FY25 results is subdued due to a subpar momentum in the global and rural demand," he added.

Mr. Vaibhav Vidwani, Research Analyst, Bonanza mentioned that the domestic market closed on sideways note movement, with the Banking and Metal sectors drawing investor interest.

"The Reserve Bank of India's neutral monetary policy, suggesting possible rate cuts, boosted optimism in the banking sector. Meanwhile, new initiatives from the Chinese government also raised hopes in the metal sector," he added.