Indian Shares End Choppy Session Higher; IT Stocks Lead Gains

(RTTNews) - Indian shares ended modestly higher on Thursday after four consecutive sessions of losses for benchmark indexes Sensex and Nifty.

The upside remained capped as investors awaited the Reserve Bank of India's interest-rate decision and policy guidance due on Friday for direction.

Market participants also eagerly await the outcome of the bilateral talks between Russian President Vladimir Putin and Prime Minister Narendra Modi.

On Friday, both Modi and Putin will hold talks at Hyderabad House as part of the 23rd India-Russia Annual Summit.

The rupee was up 20 paise during the afternoon trade on likely intervention by RBI, after having hit a new low of 90.42 at open amid uncertainty over a crucial trade deal with the United States.

The benchmark BSE Sensex closed up 158.51 points, or 0.19 percent, at 85,265.32 while the broader NSE Nifty index edged up by 47.75 points, or 0.18 percent, to 26,033.75.

The BSE mid-cap and small-cap indexes slid 0.2 percent and 0.3 percent, respectively.

The market breadth was weak on the BSE, with 2,312 shares falling while 1,806 shares advanced and 184 shares closed unchanged.

IT stocks topped the gainers list, with TCS, Tech Mahindra, Infosys and HCL Technologies gaining between 0.9 percent and 1.5 percent.

Globally, Asian markets ended mixed after Microsoft reportedly lowered its AI product sales targets, reviving worries over softer AI demand and margins.

European stocks were broadly higher in early trade as weak U.S. private payrolls data fueled bets on an interest rate cut by the Federal Reserve next week.

Gold dipped below $4,200 per ounce due to profit taking amid the dollar's rise against its peers.

The dollar index reclaimed the level of 99 after slipping to 98.85 in the previous session on rising Fed rate-cut expectations.

Oil prices traded higher as Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints.