Indian stock market ended Thursday's session with modest gains as buying in Reliance Industries and banking heavyweights lifted market sentiment. The BSE Sensex advanced 373.76 points (0.48%) to close at 78,954.76, while the NSE Nifty 50 edged up 11.35 points (0.05%) to settle at 24,636.00, remaining above the key 24,600 level. Investors remained interested in the Reserve Bank of India's decision to leave interest rates unchanged and on corporate earnings, global market trends and foreign institutional investor activity.

Key Highlights

• Indian stock market ended higher as banking stocks and Reliance Industries lifted benchmark indices on Thursday.
• Sensex gained 374 points while Nifty held above 24,600 despite weakness across auto, IT and metal stocks.

Banking Stocks and Reliance Lead Market Gains

The banking stocks beat the market, with the Nifty Bank index up 0.56% and Nifty PSU Bank index up 2.21%. Oil & Gas, Consumer Durables and Chemicals stocks also were ending in the positive.

Among Sensex stocks, State Bank of India (SBI) jumped by 3.22% ahead of its earnings report in the quarter, while Reliance Industries rose by 3.15%. Bharat Electronics, Titan, Eternal and ICICI Bank were also among the top gainers of the day.

Also Read: Sensex and Nifty End Higher Despite Banking Weakness

Auto, IT and Metal Stocks Limit Upside

Losses in the banking sector and weakness in a few other segments prevented the market from continuing its rally. The Nifty Auto index registered a 1.01% drop and IT, Realty, Metal, Media and Cement stocks were all down.

The Indian stock market overall was mixed. Meanwhile, the Nifty Smallcap 100 index rose 0.43% and the Nifty Smallcap 50 index advanced 0.99%, while the Nifty Midcap 100 index edged down 0.44%, as trading volumes on the exchanges dipped.On the exchanges, trading volumes were lower, with the Nifty Smallcap 100 index moving up 0.43%, Nifty Smallcap 50 up 0.99% and Nifty Midcap 100 down 0.44%.

Among the laggards, Power Grid Corporation declined 3.88%, while TCS, Mahindra & Mahindra, Tech Mahindra, Tata Steel, Kotak Mahindra Bank, and Maruti Suzuki also ended lower, weighing on Sensex and Nifty.