Indian stock market ended sharply higher on Thursday, snapping the Nifty's longest losing streak in 11 months, as positive global cues offset lingering domestic concerns. The BSE Sensex climbed 628.04 points, or 0.82%, to close at 77,537.72, while the NSE Nifty 50 advanced 153.55 points, or 0.64%, to settle at 24,231.85.

Key Highlights

• Sensex and Nifty gained, ending their eight-day losing streak as buying interest improved across key sectors.
• Indian stock market edged higher after eight sessions, supported by selective buying and improved investor sentiment.

US Treasury Move Lifts Global Sentiment

The improvement in sentiment followed the US Treasury's announcement that it would double buyback sizes for long-duration debt, a move aimed at addressing rising borrowing costs after the 30-year US Treasury yield touched its highest level since 2007 earlier in the week. The announcement helped ease investor concerns over rising borrowing rates, weakened the dollar and lifted equities globally, with Asian markets gaining more than 2% and US equities also advancing overnight.

For Indian stock market, however, the backdrop remained challenging heading into the session. The Nifty had recorded its seventh consecutive decline on Wednesday, falling 2.1% during its longest losing streak in 11 months. The Sensex had also ended lower that day, dropping 325.78 points to 76,909.68, while the Nifty closed at 24,078.30, down 76.60 points, or 0.32%, amid broad-based selling across Asian markets, including sharp declines in the Kospi, Nikkei and Taiwan Weighted Index.

Crude Oil Prices Remain a Key Concern

Crude oil prices continued to weigh on investor sentiment through the session. Brent crude was trading around $91.75 a barrel, while US crude stood at $85.79, as markets assessed developments around the US-Iran conflict and the security of shipping through the Strait of Hormuz.

Vinod Nair, Head of Research at Geojit Investments, said the lack of a diplomatic resolution following the end of the earlier US-Iran ceasefire had kept crude oil prices and bond yields elevated, adding that the next phase of market performance would depend largely on the stability of crude oil supply chains.

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Sectoral and Stock-Specific Highlights

On Thursday, gains were led by Eternal, which rose 2.31%, followed by Kotak Mahindra Bank at 1.65% and ITC at 1.63%. Bajaj Finance gained 1.53%, while Axis Bank advanced 1.46%. UltraTech Cement and Infosys rose 1.18% each, Power Grid gained 1.07%, and Larsen & Toubro and Hindustan Unilever added 1.04% and 1.02%, respectively. NTPC, Bharti Airtel, HDFC Bank, Mahindra & Mahindra, Trent and Adani Ports also ended in the green.

On the losing side, Tata Steel was the biggest laggard among Sensex constituents, declining 0.41%, followed by IndiGo, which fell 0.24%. HCL Technologies slipped 0.19%, while Titan ended 0.04% lower, and Bharat Electronics closed unchanged.

Sectoral performance had been mixed on Wednesday, with Nifty IT gaining 0.60%, while Media, Chemicals, FMCG, Oil & Gas, Auto, Realty and Pharma all ended lower that session.

Rupee Strengthens Against the Dollar

The Indian rupee strengthened 17 paise to 95.56 against the US dollar in early trade on Thursday, supported by weakness in the greenback following the US Treasury's announcement of higher buybacks for longer-dated government bonds.

Foreign Investors Turn Buyers After Record 2026 Outflows

Foreign institutional investor activity remained a key area of focus for Indian equities. Overseas investors have sold a record $24.7 billion worth of Indian shares so far in 2026, with higher US Treasury yields making Indian and other emerging market assets relatively less attractive. However, provisional exchange data showed foreign investors net bought Indian shares worth Rs 4.1 billion on Wednesday, marking their third session of buying in four sessions - a notable contrast to the broader outflow trend seen through the year.

Earnings in Focus

Corporate earnings also remained on investors' radar, with the Q1 FY27 results season having generally exceeded expectations so far. Stocks including Xtranet Technologies and Lohia Corp were among those drawing attention following the release of their latest quarterly results.