Indian Stock Market Opens Strong Amid Positive Global Signals
Indian stock market rises sharply with Sensex gaining 755 points and Nifty up by 1% amid positive global trends.
Mumbai, October 21 (Daily Kiran) : The Indian stock market opened on a high note on Wednesday, buoyed by positive signals from global markets. Major benchmark indices recorded nearly a one percent increase during the session.
The Sensex surged by approximately 700 points, crossing the 74,500 mark, while the Nifty 50 also climbed over 0.80 percent, surpassing the 23,000 level. The Sensex opened at 74,337.93, up 485 points or 0.65 percent from its previous close of 73,852.90. At one point, it reached a peak of 74,607.66, gaining 754.76 points or 1.02 percent.
The Nifty 50 started at 23,016.00, up 127 points or 0.55 percent from its last close of 22,888.95. It later hit a day-high of 23,119.25, reflecting an increase of 230.3 points or 1 percent.
In the broader market, the Nifty Midcap 100 saw a slight increase of 0.02 percent, while the Nifty Smallcap 100 experienced a decrease of 0.09 percent.
Sector-wise, the Nifty IT index led the gains with a rise of 2.3 percent. Other sectors, including Nifty PSU Bank, Nifty Oil and Gas, Nifty Cement, and Nifty Realty, also recorded significant increases. Conversely, the Nifty Chemical and Nifty Media indices faced the largest declines.
In the currency market, the Indian rupee appreciated by 15 paise against the US dollar, opening at 94.78, compared to the previous day’s close of 94.93.
Globally, Asian markets showed positive trends, with South Korean stocks leading the gains. On Wall Street, healthcare stocks boosted the Dow Jones and S&P 500 indices, while tech stocks slightly pulled down the Nasdaq index.
Meanwhile, crude oil prices have risen, with the global benchmark Brent crude trading near $110 per barrel.
Market experts suggest that optimism surrounding a potential India-US trade agreement could support domestic markets. However, high crude oil prices, rising global bond yields, and ongoing geopolitical uncertainties continue to pressure investor confidence, making sustained improvement challenging.
