US yields continued to ease with the 10-year yield falling to 3.85% levels, its lowest in nearly 5 months. The possibility of early interest rate cuts by the Federal Reserve also aided sentiments. Tracking US, Indian government bond yields also eased marginally on Thursday.

The major fall happened after traders booked profits on Wed amid concerns over high valuation and overbought signals on charts

Nifty FMCG was up 1.4%, Oil and Gas rose 0.8% post a cut in windfall tax by the government. Auto and IT were down today

Stocks like Sunpharma, RIL, Bajaj Finance, HCL Tech, Asian Paints, Titan were the top gainers. Powergrid, ICICI Bank, JSW Steel, ITC and IndusInd Bank were the top losers among the Sensex Pack.

Nifty IT rallied 4.5%, while Nifty Metal and Nifty PSU Bank surged over 2%. Whereas Nifty Auto, FMCG, Media, and Realty declined. The rise in IT stocks comes after the Fed acknowledged it is making real progress in easing inflation while maintaining a rate pause.

From the Sensex stocks, Infosys, Tech Mahindra, Wipro, HCL Tech, IndusInd Bank, and Bajaj Finance were the top gainers, rising 3-4%. On the flip side, Power Grid, Nestle, JSW Steel, Maruti, and Asian Paints closed in the red.

From the Sensex pack, NTPC, Power Grid, M&M, and L&T were the top gainers, rising 2-3.5%. L&T, Sun Pharma, SBI, Titan, and Tata Steel also closed higher. TCS, Infosys, Axis Bank, and Bajaj Finserv closed in the red.

Among the Sensex stocks, Sun Pharma IndusInd Bank, Maruti, Titan, and Reliance Industries closed in the red, while UltraTech Cement, JSW Steel, Axis Bank, TCS, and Wipro closed in the green.

In the Sensex pack, UltraTech Cement, Nestle, Power Grid, IndusInd Bank, and JSW Steel closed with gains, while Axis Bank, M&M, HUL, Maruti, and Bajaj Finserv closed with cuts.

Monetary policy will remain actively disinflationary, RBI Governor Shaktikanta Das said, adding that the fundamentals of the Indian economy remain strong.