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The Indian stock market closed in the green in Thursday's trading session after seven consecutive sessions of decline. At the end of the day, Sensex was at 77,537.72, up 628.04 points or 0.82 per cent, and Nifty was at 24,231.85, up 153.55 points or 0.64 per cent.

The market rally was led by media, realty and private banks. Among the indices, Nifty Media (2.13 per cent), Nifty Realty (1.41 per cent) and Nifty Private Bank (0.89 per cent) were the top gainers. After this, Nifty FMCG, Nifty IT, Nifty Financial Services, Nifty Services, Nifty Consumer Durables and Nifty Infra were the biggest rising indices. Nifty India Defence, Nifty PSE and Nifty PSU Bank closed in the red.

Along with largecaps, buying was also seen in midcaps and smallcaps. The Nifty Midcap 100 index was up 262.80 points or 0.41 per cent at 63,671.55 and the Nifty Smallcap 100 index was at 19,841.45, up 134.30 points or 0.68 per cent.

Eternal, Kotak Mahindra Bank, ITC, Bajaj Finance, Axis Bank, Infosys, UltraTech Cement, Power Grid, L&T, HUL, NTPC, Bharti Airtel, HDFC Bank and M&M were the gainers in the Sensex pack. Tata Steel, Indigo, HCL Tech and Titan were the losers.

According to experts, the US Treasury's intervention to stop the rise in bond yields provided much-needed relief to the market, which led to a tremendous rise and stopped the week-long decline in the domestic market. This intervention weakened the dollar and thereby strengthened the rupee and reduced yield pressure, making emerging markets attractive for investors.

He further said that this improvement in the market was seen across all sectors, which mainly contributed to the rise in IT and financial stocks, as softening yields encouraged spending. However, crude oil prices are still at high levels, due to which there is a danger of inflation increasing.