Sensex jumps 579 pts on easing crude oil prices

Stock market benchmark indices Sensex and Nifty ended nearly one per cent higher on Thursday amid softening crude oil prices, following positive developments on the geopolitical front and buying in blue-chip IT stocks.

The 30-share BSE Sensex jumped 579.48 points, or 0.75 per cent, to end at 77,502.12. During the day, it surged 656.29 points, or 0.85 per cent, to 77,578.93.

The 50-share NSE Nifty rallied 169.85 points, or 0.71 per cent, to settle at 24,175.70. From the Sensex pack, Infosys jumped 5.64 per cent, followed by Tech Mahindra (4.32 per cent), Tata Consultancy Services (4.28 per cent) and HCL Tech (4.12 per cent). Bajaj Finserv, Adani Ports, Titan and ICICI Bank were also among the major gainers. Larsen & Toubro, Maruti Suzuki India, Axis Bank and Reliance Industries were among the laggards.

Brent crude, the global oil benchmark, dropped 1.45 per cent to $70.53 per barrel. India and Japan on Thursday unveiled a raft of landmark initiatives, including an economic partnership framework and defence pact to co-develop military hardware, following summit talks between Prime Minister Narendra Modi and his Japanese counterpart Sanae Takaichi.

The major outcomes from the meeting included a declaration on economic security, a joint statement for cooperation in the field of artificial intelligence and a document to bolster engagement in the energy supply chain.