A explosive start in the stock market: Sensex rose by 559 points, Nifty crossed 25,500 for the first time… IT sector won.

Mumbai: Domestic stock markets Sensex and Nifty saw a rise in early trading on Wednesday. The main reasons for this were buying in IT shares recovering from the huge fall of the previous session and positive trends in global markets.

BSE Sensex rose 558.79 points to 82,784.71 in early trade while NSE Nifty rose 157.05 points to 25,581.70. Among the 30 companies included in the Sensex, shares of Tech Mahindra, HCL Tech, Tata Consultancy Services, Infosys, Power Grid and InterGlobe Aviation gained the most. Shares of State Bank of India, Bajaj Finance, Asian Paints and Maruti Suzuki declined.

The BSE IT index was trading 2.08 per cent higher at 29,850.09 in early trade. IT stocks fell sharply on Tuesday amid concerns about disruption caused by artificial intelligence (AI). In Asian markets, South Korea’s Kospi, China’s SSE Composite Index, Japan’s Nikkei 225 and Hong Kong’s Hang Seng were notable gainers. American markets closed with gains on Tuesday.

The price of international standard Brent crude stood at $ 71.31 per barrel with an increase of 0.76 percent. According to stock market data, foreign institutional investors (FIIs) were sellers on Tuesday and sold shares worth Rs 102.53 crore. On the other hand, domestic institutional investors bought shares worth Rs 3,161.22 crore.