Indian stock markets opened on a positive note on Wednesday, with the benchmark BSE Sensex and Nifty showing significant gains in early trading.
In early trading on Tuesday, benchmark equity indices saw a decline due to profit-taking after a record-breaking rally. Bluechip stocks such as Reliance Industries and HDFC Bank faced selling pressure.
The NSE Nifty index climbed 99.4 points to 22,920.80, continuing its upward trajectory and indicating a robust trading session.
The Sensex and Nifty achieved record highs during intraday trade on Friday before ending flat due to market volatility. The S&P BSE Sensex peaked at 75,636.5 but closed at 75,410, down 8 points. The NSE Nifty50 surpassed the 23,000-mark, closing 11 points lower at 22,957.
This rally followed the Reserve Bank of India's (RBI) approval of a record Rs 2.11 lakh crore dividend to the government, bolstered by strong buying in blue-chip stocks such as Reliance Industries and HDFC Bank.
Major sectors such as IT, finance, and consumer goods saw notable increases, driving the overall market uptrend. Positive global cues and strong domestic earnings reports contributed to the rally.
Bharti Airtel also made significant gains, climbing by 2.38% to Rs 1,342.95, amid expectations of tariff hikes post-general elections. Additionally, Tech Mahindra Ltd (TecM), Titan Company Ltd, and Infosys Ltd each recorded gains of over 2%.
Nifty, which tracks the performance of the top 50 companies listed on the National Stock Exchange (NSE), recorded a slight dip of 17.30 points. It settled at 22,200.55 by the end of the trading session, signalling a subdued market trend.
The Sensex and Nifty rebounded dramatically on Monday, spurred by buying in HDFC Bank, ICICI Bank, and Tata Consultancy Services. The BSE Sensex closed higher by 111.66 points, or 0.15%, at 72,776.13 after hitting a low of 71,866.01 during the day.
As worries surrounding the general elections persisted, both the Sensex and the Nifty 50 witnessed a significant drop of over 1 per cent during Thursday's trading session. The volatility intensified on the weekly Nifty options expiry day, adding to the market turmoil.
The marginal increase in the Sensex suggests cautious optimism among investors, while the dip in the Nifty indicates some profit-taking and consolidation in select sectors.
Investors are closely monitoring the market dynamics and key developments to assess the trajectory of the stock market throughout the trading day. The positive start augurs well for market participants, with hopes of continued bullish momentum in the trading sessions ahead.
Several factors likely contributed to today's market rebound, including positive global cues, improved investor sentiment, and strong corporate earnings reports. Additionally, easing concerns over inflation and interest rates may have also played a role in boosting market confidence.
The sudden downturn in the market sent shockwaves throughout the investor community, as concerns over various economic factors, including inflation and geopolitical tensions, fueled uncertainty and contributed to the sell-off.
Indian stock indices surged to record highs on Wednesday, with the Sensex crossing the 74,000 mark for the first time and settling at 74,085.99 points, while the Nifty closed at 22,474.05 points.
Despite achieving fresh closing highs, the market saw relatively modest gains, influenced by mixed global cues and the absence of significant triggers. Analysts attribute the subdued performance to a lack of fresh catalysts in the current market environment.
In the morning session on Tuesday, benchmark stock market indices in India opened marginally higher as the global rally showed signs of cooling down following a period of robust gains.
This upward momentum in both indices reflects a positive sentiment in the stock market, potentially driven by favorable economic indicators and investor confidence.
Mumbai: Investor anxiety over whether the apex bank would cut key lending rates led a barometer index of the Indian equities markets to trade deep in the red during the pre-noon session on Tuesday.The benchmark
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