Stock Market Today: Stock market jumped due to easing of western tension, Sensex opened at 350 points
Mumbai. Amid positive signals from global markets and easing of tensions between Israel and Iran, major indices of the domestic stock market Sensex and Nifty registered a rise in early trading on Tuesday. BSE’s 30-share benchmark index Sensex rose 350.57 points to 73,874.83 points in early trade. At the same time, the 50-share standard index Nifty of the National Stock Exchange (NSE) was trading 114.50 points higher at 23,237.50 points in early trade.
Among the Sensex companies, Trent, ICICI Bank, InterGlobe Aviation, Axis Bank, Mahindra & Mahindra and Bajaj Finserv were trading with gains. However, pressure was seen on shares of IT and some other sectors. NTPC, Tata Steel, Infosys, Power Grid and Tech Mahindra were major losers. Globally, crude oil prices were seen softening. Brent crude was trading 1.15 per cent lower at US$93.17 per barrel.
According to market experts, crude oil prices have been supported by some signs of easing of tensions in the Middle East. However, prices still remain at high levels. Ponmudi R, chief executive officer of online trading platform Enrich Money. “Crude oil prices have stabilized but are still at elevated levels, raising concerns over inflation, import costs and the macroeconomic outlook,” it said.
Improvement was also seen in other markets of Asia. South Korea’s Kospi, Japan’s Nikkei 225 and China’s Shanghai Composite Index were in the rise, while Hong Kong’s Hang Seng was in a slight decline. US markets mostly closed with gains on Monday. According to the data, foreign institutional investors (FIIs) sold shares worth Rs 5,555.67 crore on Monday. Earlier on Monday, a sharp decline was recorded in the market. Sensex fell 719.08 points to close at 73,524.26 points and Nifty fell 243.70 points to close at 23,123 points.
Comments are closed.