Stock Market Closing Bell: Rallying for the fourth straight session, stock market benchmarks Sensex and Nifty surged over 1 per cent on Thursday, powered by across-the-board buying amid a mixed trend in global equities after the US Federal Reserve maintained its rate cut projections for this year. Hectic buying in market heavyweights Reliance Industries, Bharti Airtel and IT stocks also bolstered investor sentiment, traders said.

The 30-share BSE benchmark Sensex jumped 899.01 points or 1.19 per cent to settle at 76,348.06, regaining the 76,000 level. During the day, it soared 1,007.2 points or 1.33 per cent to 76,456.25. The NSE Nifty surged 283.05 points or 1.24 per cent to reclaim the 23,000-mark to finish at 23,190.65.

From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers. However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards. Meanwhile, the Federal Reserve said the US economy still looks healthy enough to keep interest rates unchanged.

In Asian markets, Seoul settled in the positive territory while Shanghai and Hong Kong ended lower. Japan's Nikkei was closed for a holiday. European equity markets were trading lower. US markets ended significantly higher on Wednesday.

Global oil benchmark Brent crude rose 0.32 per cent to USD 71.01 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,096.50 crore on Wednesday after a day's breather, according to exchange data. Domestic Institutional Investors (DII), however, bought equities worth Rs 2,140.76 crore.

 On Wednesday, the Sensex climbed 147.79 points or 0.20 per cent to settle at 75,449.05. The Nifty rose 73.30 points or 0.32 per cent to 22,907.60. 

Rupee appreciated 1 paisa

The rupee stayed firm and appreciated 1 paisa to close at 86.36 (provisional) against the US dollar on Thursday supported by positive domestic equities. At the interbank foreign exchange, the rupee opened at 86.39 then touched an intraday high of 86.20 and a low of 86.41 against the greenback. The unit ended the session at 86.36 (provisional) against the dollar, registering a gain of 1 paisa from its previous closing level. On Wednesday, the rupee appreciated 19 paise to close at 86.37 against the US dollar.

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