Sensex settles 130 pts higher, Nifty above 25,850

Equity benchmark indices extended the winning run to the sixth straight trading session on Thursday, even as they ended off the day's high, led by strong gains in IT stocks.The BSE Sensex rallied to a fresh 52-week high of 85,290, and was up 864 points at the highest point of the day. The Sensex, however, eventually ended the day with a modest gain of 130 points or 0.15 per cent at 84,556. Similarly, the NSE Nifty 50 zoomed to an intra-day high of 26,104 on Thursday, before signing off the day on a flat note at 25,891 - up 23 points.

Investor sentiment was further lifted by expectations that strong festive-season demand, recent tax cuts, and policy support will drive corporate profits higher in the second half of FY26. IT stocks were in the limelight on Thursday, with Infosys surging nearly 4 per cent, helping drive the equity markets higher.

Sebi on Thursday barred First Overseas Capital from taking any new mandate for two years and levied a penalty of Rs 20 lakh for multiple violations, including furnishing false information and breaching underwriting limits.

Reliance Industries Ltd, India's biggest buyer of discounted Russian oil, plans to scale back imports of Russian crude oil following fresh US sanctions on Moscow-linked firms, sources said.

State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said.