Mumbai, May 19: The Indian stock market opened on a positive note on Tuesday, buoyed by the easing tensions between the U.S. and Iran. At 9:18 AM, the Sensex rose by 347 points or 0.46%, reaching 75,664, while the Nifty gained 86 points or 0.36%, climbing to 23,736.
Widespread buying was observed across the market, with IT stocks leading the surge. The Nifty IT index emerged as the top gainer, up by 3%. Other sectors, including Nifty FMCG, Nifty Services, Nifty PSU Bank, Nifty Oil and Gas, Nifty Media, Nifty India Defense, Nifty Healthcare, Nifty Pharma, Nifty Consumer Durables, Nifty Infra, Nifty Energy, and Nifty India Manufacturing, also recorded gains.
Conversely, the Nifty Metal, Nifty Private Bank, and Nifty Financial Services indices were in the red.
Both mid-cap and small-cap stocks experienced upward momentum alongside large-cap stocks. The Nifty Midcap 100 index rose by 360 points or 0.60%, reaching 60,833, while the Nifty Smallcap 100 index increased by 91 points or 0.52%, settling at 17,747.
Among the gainers in the Sensex pack were Infosys, HCL Tech, Tech Mahindra, TCS, Trent, HUL, Asian Paints, Indigo, Bajaj Finance, ITC, M&M, Adani Ports, L&T, Maruti Suzuki, BEL, SBI, Sun Pharma, Axis Bank, NTPC, Tata Steel, and Bharti Airtel. In contrast, Titan, Kotak Mahindra, Ultratech Cement, Eternal, HDFC Bank, and ICICI Bank were among the losers.
The market’s bullish trend is attributed to the U.S. decision to postpone an attack on Iran, which has also led to a slight easing in crude oil prices.
U.S. President Donald Trump announced on social media that, following suggestions from Qatar, Saudi Arabia, and the UAE, the U.S. has decided to delay the planned attack on Iran. He also indicated that discussions for peace with Iran are ongoing.
Global markets showed mixed trends. Tokyo, Bangkok, Seoul, and Jakarta were in the red, while Shanghai experienced gains. U.S. stock markets closed mixed on Monday, with the Dow Jones finishing in positive territory, while the Nasdaq ended lower.
Crude oil prices have softened, with WTI crude down by 1.47% at $102 per barrel and Brent crude falling by 1.98% to $109 per barrel.
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