Mumbai, July 15: The Indian stock market opened on a positive note on Wednesday, buoyed by strong signals from global markets. At 9:21 AM, the Sensex surged by 377 points or 0.49%, reaching 77,432, while the Nifty climbed 116 points or 0.48% to settle at 24,168.
Financial stocks were at the forefront of the morning trading surge. The Nifty Financial Services index emerged as the top gainer. Other sectors such as Nifty Private Bank, Nifty Auto, Nifty PSU Bank, Nifty India Defense, Nifty India Manufacturing, Nifty Consumer Durables, and Nifty Realty also traded in the green. In contrast, only the Nifty IT and Nifty Media indices were in the red.
Large-cap stocks, along with mid-cap and small-cap shares, also experienced robust trading. The Nifty Midcap 100 index rose by 86 points or 0.48% to 18,074, while the Nifty Smallcap 100 index gained 143 points or 0.75%, reaching 19,370.
Among the gainers in the Sensex pack were Bajaj Finance, Axis Bank, Indigo, Ultratech Cement, HCL Tech, ICICI Bank, and SBI. On the losing side were TCS, Infosys, Power Grid, and Tata Steel.
Most global markets showed an upward trend. Tokyo, Hong Kong, Bangkok, Seoul, and Jakarta were all in the green, while only Shanghai was in the red. The U.S. stock market closed positively on Tuesday, with the Dow Jones slightly up and the technology index Nasdaq rising by 0.90%.
Experts attribute the global market rally to a decrease in inflation in the U.S. Retail inflation fell to 3.5% in June, down from 4.2% in May, primarily due to a drop in energy prices.
Foreign Institutional Investors (FIIs) sold equities worth ₹739.69 crore on Tuesday, while Domestic Institutional Investors (DIIs) invested ₹2,927.71 crore during the same period.
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