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Benchmark equity indices- the Sensex and the Nifty 50- ended in the green for the second consecutive session on Thursday, April 2, on fag end buying despite weak global cues and a sharp jump in crude oil prices.

The Sensex closed 185 points, or 0.25%, higher at 73,319.55. The 30-share pack vaulted 1774 points from the day's low of 71,545.81 to end in the green. The NSE counterpart Nifty 50 rebounded 531 points from the day's low of 22,182.55 to end at 22,713.10, up 34 points, or 0.15%.

The BSE 150 Midcap index, however, ended with a loss of 0.24%, while the BSE 250 Smallcap index inched up by 0.05%.

The benchmark indices rose for the second consecutive session on buying in select banking and IT heavyweights, including HDFC Bank, Infosys, HCL Tech, TCS, ICICI Bank, and Tech Mahindra, ahead of the start of the Q4 results season.

IT bellwether TCS will announce its Q4 results on April 9. HDFC Bank and ICICI Bank will announce their results on April 18.

The rupee's strong jump also influenced sentiment.

"The markets staged a strong recovery in the latter half of the session, supported by value buying and a sharp appreciation in the rupee, which marked its strongest gain in over 12 years. Consequently, both benchmark indices closed in positive territory," noted Sunny Agrawal, the head of fundamental research at SBI Securities.

The Indian rupee ended 171 paise, or 1.80%, higher at 93.10 per dollar on Thursday, according to Bloomberg data.

According to Reuters, the domestic currency jumped to 92.8350 during the session, witnessing its best day since 2013 after the Reserve Bank of India's recent measures to curb speculative moves against the currency.

Some 24 stocks ended in the green in the Nifty index, while the remaining 26 ended lower.

HCL Tech shares rose 3%, making it the top gainer in the index, followed by Tech Mahindra and Tata Consumer, each up more than 2%.

On the flip side, Asian Paints, Eicher Motors, and Sun Pharma were the top losers, each falling more than 2%.

The Nifty IT index stole the limelight, surging 2.60%. The Realty pack climbed more than 1%.

Nifty Bank gained 0.19%, while the Financial Services index rose by 0.25%.

However, Consumer Durables, Oil and Gas, Healthcare, and Pharma indices declined by 1%. Nifty Auto dropped by 0.62%.

Brent Crude oil prices jumped more than 7% to trade above $108 per barrel, as US President Donald Trump, in his address to the nation, failed to offer clarity on the reopening of the Strait of Hormuz.

Some 157 stocks, including Bajaj Finserv, HDFC Bank, ICICI Bank, Hindustan Unilever, and Kotak Mahindra Bank, hit their 52-week lows during the session on the BSE.

Vodafone Idea, Ola Electric Mobility, Tata Silver Exchange Traded Fund, Tata Gold Exchange Traded Fund, YES Bank, Eternal, Suzlon Energy, Latent View Analytics, and Reliance Power were the most traded stocks, or most active stocks in terms of volume, on the NSE on Thursday.

(This is a developing story. Please check back for fresh updates.)

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.Nishant is a market reporter at Mint, where he holds the official designation of Principal Correspondent – Markets. He has been closely tracking the Indian stock market as well as major global stock markets along with the broader macroeconomic trends for a decade.

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