Share Market Today: Sensex rises 202 points amid Asian market crash, stock market has made a great start

Indian Share Market Today: The Indian stock market has given a very good performance on Thursday. Despite heavy selling in Asian markets, domestic investors bought heavily. Due to this, Sensex and Nifty opened strongly on the green mark today. There was no impact of global tensions on the Indian market at all in early trading.

BSE Sensex opened at the level of 77388 with an impressive gain of 202 points. Similarly, NSE Nifty started trading at 24142 level with a gain of 63 points. Investors ignored rising tensions between the US and Iran and rising crude oil prices. A positive and encouraging atmosphere is being seen in Dalal Street today.

Steep decline in Asian markets.

Asian stock markets witnessed a sharp fall on Thursday amid mixed signals from global markets. South Korea’s Kospi index fell more than 6 percent. The MSCI Asia Pacific fell 1.7 percent and Japan’s Nikkei 225 fell 2.4 percent. Hang Seng Index futures were also recorded at the level of 24,829.

Causes of decline and inflation

The main reason for this decline in Asian markets is new selling in semiconductor and AI stocks. South Korea’s central bank has increased the policy interest rate for the first time since January 2023. Core inflation rose to 3.2 percent in June, the highest level since 2023. The possibility of wage increase has also increased due to bonuses given by IT companies.

rising prices of crude oil

Crude oil prices are continuously rising globally as America has launched new attacks on Iran. These attacks have increased tension in West Asia, due to which there is a possibility of disruption in energy supply. Brent crude is trading above $ 85 per barrel, gaining for the fourth consecutive session. The Gulf conflict has once again exacerbated the energy crisis.

Also read: Russia faces shortage of petrol due to Ukrainian attacks, Putin seeks help from India, is Moscow trapped in oil crisis?

Gift Nifty and Wall Street

GIFT Nifty was trading around 24,106 level which indicates a strong premium of 39 points. Wall Street closed strongly on the back of soft inflation data and strong corporate earnings. The Dow Jones gained 150.91 points to close at a high of 52,659.18. The S&P 500 closed at 7,572.43 and the Nasdaq closed at 26,269.23.