Mumbai, May 21: The Indian stock market opened on a positive note, buoyed by strong global signals. The Sensex rose by 414 points or 0.53 percent, reaching 75,732, while the Nifty gained 171 points or 0.72 percent, opening at 23,830.
In early trading, defense stocks led the market rally. The Nifty India Defense was the top gainer among the indices. Nearly all sectors, including Nifty PSU Bank, Nifty Realty, Nifty Auto, Nifty Financial Services, Nifty Consumption, and Nifty Private Bank, were in the green.
Large-cap stocks saw gains, along with mid-cap and small-cap shares. The Nifty Midcap 100 index rose by 438 points or 0.71 percent to 61,761, while the Nifty Smallcap 100 index increased by 162 points or 0.91 percent to 18,033.
Notable gainers in the Sensex pack included Indigo, BEL, Asian Paints, L&T, Power Grid, Adani Ports, UltraTech Cement, HDFC Bank, Maruti Suzuki, SBI, ITC, Bajaj Finance, HUL, M&M, HCL Tech, Kotak Mahindra Bank, NTPC, Axis Bank, Tech Mahindra, and Bharti Airtel. Conversely, Infosys, Trent, TCS, and Sun Pharma were among the laggards.
Most Asian markets opened higher, with Tokyo, Shanghai, Hong Kong, and Bangkok in the green, while Jakarta’s market was in the red. The U.S. markets also saw gains on Wednesday, with the Dow closing up 1.31 percent and the Nasdaq, a technology index, rising by 1.54 percent.
The surge in global markets is attributed to U.S. President Donald Trump’s statement indicating that Washington would wait a few more days for a proper response from Iran. Additionally, weakness in crude oil and the dollar has supported the market’s upward trend.
Foreign Institutional Investors (FIIs) continued their selling spree, offloading shares worth ₹1,597.35 crores. However, Domestic Institutional Investors (DIIs) invested ₹1,968.35 crores in equities.
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