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Indian benchmark indices Sensex and Nifty saw a positive rebound in early trade, driven by a moderation in crude oil prices and robust buying in key IT sector stocks, offering relief after two consecutive days of losses.
Photograph: Francis Mascarenhas/Reuters
Sensex and Nifty50 Performance: Key Market Highlights Today
- The Sensex advanced 190 points to 72,733.04, and the Nifty rose 22 points to 22,735.20 in early trade.
- Easing crude oil prices and buying interest in major IT stocks like TCS and HCL Tech contributed to the market’s recovery.
- Despite the rebound, market sentiment remains cautious due to ongoing uncertainties surrounding the US-Iran conflict and global energy supply outlook.
- Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 9,980.22 crore on Tuesday.
Market benchmark indices Sensex and Nifty rebounded in early trade on Wednesday after two days of losses amid easing crude oil prices and buying in blue-chip IT stocks.
The 30-share BSE Sensex advanced 190 points to 72,733.04 in early trade.
The 50-share NSE Nifty was up 22 points to 22,735.20.
Winners and Laggards on Dalal Street
From the 30 Sensex firms, Tata Consultancy Services, Tech Mahindra, HCL Tech, InterGlobe Aviation, ICICI Bank and Trent were among the major winners.
Adani Ports, HDFC Bank, Sun Pharma and NTPC were among the laggards.
What Experts Say
“Indian equities are likely to find some relief at the open as a sharp pullback in crude oil prices eases one of the key pressures that has weighed on domestic markets in recent sessions,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
The moderation in oil prices, however, comes against a backdrop of continued uncertainty over the US-Iran conflict and the outlook for regional energy supplies, he added.
How Global Markets Fared
In Asian markets, South Korea’s KOSPI and Hong Kong’s Hang Seng index traded lower, while Shanghai’s SSE Composite index and Japan’s Nikkei 225 index quoted marginally higher.
US markets ended lower on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,980.22 crore on Tuesday, according to exchange data.
Brent crude, the global oil benchmark, traded 0.68 per cent higher at $103.3 per barrel.
