Stock market today: The BSE Sensex and Nifty extended their winning streak to the third consecutive session, buoyed by positive global market sentiment after US consumer inflation came in lower than anticipated, strengthening expectations of Federal Reserve rate reductions.
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The BSE benchmark surged 318.74 points or 0.42 per cent to reach 77,042.82, after touching an intraday peak of 77,319.50, marking a rise of 595.42 points or 0.77 per cent.
The NSE Nifty registered an increase of 98.60 points or 0.42 per cent to close at 23,311.80.
"Benchmark indices continued to trade in the positive, albeit off highs, driven by positive investor sentiment following mild US inflation data, which raised hopes for a potential rate cut by the Federal Reserve.
"Additionally, favourable developments in the Israel-Hamas ceasefire and a reduced trade deficit further boosted the market's upward movement. However, weak economic growth data from the UK dampened some of this optimism," Vinod Nair, Head of Research, Geojit Financial Services, said.
Among the BSE 30 constituents, Adani Ports led the gains, followed by State Bank of India, Bajaj Finserv, Bharti Airtel, Tata Motors, IndusInd Bank, NTPC, Maruti, Reliance Industries and Axis Bank.
HCL Tech, Nestle, Infosys, Hindustan Unilever, ITC and Tata Consultancy Services finished in the red.
Asian markets ended positively, with gains across Seoul, Tokyo, Shanghai and Hong Kong.
European markets traded higher, whilst US markets showed strong performance on Wednesday.
Foreign Institutional Investors sold shares worth Rs 4,533.49 crore on Wednesday, as per exchange data.
Brent crude, the international oil standard, declined 0.18 per cent to USD 81.88 per barrel.
The previous session saw the BSE benchmark rise by 224.45 points or 0.29 per cent to 76,724.08, while the Nifty gained 37.15 points or 0.16 per cent to reach 23,213.20.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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