Closing Bell: Headline indices close higher in a volatile session

Domestic equity bourses BSE Sensex and NSE Nifty ended a volatile session in the green today, snapping the two-day losing streak aided by oil & gas and IT stocks. 

Indian equity market on Thursday recovered from the morning losses to end higher. Today's rally was driven by gains in technology and energy shares. The headline indices halted the two-day losing streak on strong buying interest in index heavyweights like Tata Consultancy Services (TCS) and Reliance Industries (RIL). Owing to these developments, the benchmarks indices sured to a day's high to settle above important levels. 

At the closing bell on June 2 the Sensex was up 339.88 points or 0.61% at 55,721 and the Nifty was up 89.70 points or 0.54% at 16612.45. On the market breadth, around 1885 shares have advanced, 1384 shares declined, and 132 shares are unchanged. 

In the top trending stocks, Reliance surged over 3% to close at one-month high, and lifted Nifty index by 68 points. Financial names kept market gains in check with HDFC, HDFC Bank and ICICI Bank being the top losers. Also, in the news - Life Insurance Corporation of India (LIC), the country's largest insurer and domestic financial investor, dropped by 0.58% to settle at Rs 805.85. 

On a sectoral basis, the oil & gas index added over 2% while selling was witnessed in auto and capital goods shares. In the broad markets, the midcap index ended flat while the smallcap index finished with gains 0.5%. 

In the currency market, Indian Rupee closed at 77.61 per US dollar against Wednesday's close of 77.52 per US dollar. In global markets, participants were cautious on the back foot amid worries that current economic data might do nothing to change the FED decision from its aggressive interest rate hiking cycle.