The stock market extended its winning streak on the fourth straight session on Thursday, led by positive global markets after the US Federal Reserve held the benchmark interest rate steady.

At close, the Sensex was up 899.01 points or 1.19% at 76,348.06, and the Nifty was up 283.05 points or 1.24% at 23,190.65.

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Indian indices opened gap-up with Nifty above 23,000 and extended the gains to cross 23,200 intraday before closing near the day’s high.

The BSE Midcap and Smallcap indices recorded 0.5% gains, reflecting strong momentum across the board.

In terms of sectors, all ended in the green with metal, media, IT, FMCG, auto, consumer durables, realty, and telecom up 1% each.

IT stocks surged after the Fed reaffirmed two rate cuts for 2025, boosting investor confidence rising by 1.3%, marking a five-session high, as domestic IT stocks tracked US tech stock gains.

On Nifty, 44 out of the 50 constituent stocks settled higher, led by gains in Bharti Airtel, Titan, Britannia, Eicher Motors, and Bajaj Auto, which rose by up to 4.08%.

IndusInd Bank, Trent, Shriram Finance, and Bajaj Finance were among the few stocks that ended lower by up to 1.11%, while UltraTech Cement and Axis Bank were the only two constituent stocks of Nifty that settled flat.

On the BSE, over 100 stocks touched a 52-week low, including KEI Industries, Paushak, Veritas, Kesoram Industries, GVK Power, Suyog Telematics, and EKI Energy, among others.

IndiGo hit a fresh record high, rising 4% amid continued bullish sentiment from brokerages. Hindustan Copper also jumped 6% as copper prices surged past $10,000 per ton.

Some of the key laggards were KEI, which plunged 13%, while Polycab fell 9% and Havells fell over 5% after Adani Group announced its entry into the cables & wires segment with its joint venture, Praneetha Ecocables.

Furthermore, the shares of Paytm also fell 6% after Jefferies maintained a ‘hold’ rating, citing growth concerns and potential roadblocks.

The crisis-ridden IndusInd Bank shares declined over 1%, reversing early gains after the RBI termed its derivatives issue an isolated case.

While global uncertainties continue to contribute to volatility, recent measures by the government and the central bank are expected to support economic growth.