Sensex rose 143 points to open at 82,418.78 today, while the Nifty 50 index gained around 74 points to 25,556.30.
Top gainers and losers
IT stocks, including Tech Mahindra, Infosys, Tata Consultancy Services (TCS), and HCL Technologies, were among the top gainers on Sensex, rising up to 2%. Zomato-parent Eternal, Adani Ports and others followed.
UltraTech Cement, Axis Bank, ICICI Bank and Bajaj Finance were among the top losers, trading in the red with marginal losses.
Despite the uptrend in stock markets today, analysts advise caution. Ajit Mishra, SVP of Research at Religare Broking, said that the overall structure still suggests the possibility of further downside. “Amid the prevailing uncertainty, a selective approach based on sectoral trends continues to work well, with preference for banking, auto, metal and energy counters for long positions. Participants are advised to focus on opportunities on both sides until a clearer directional trend emerges,” he added.
Global marketsUS stock markets ended higher on Wednesday after Nvidia’s record results. Tech-heavy Nasdaq Composite gained around 1.3% to 23,152, while Dow Jones Industrial Average and S&P 500 gained 0.63% and 0.81% respectively.
The S&P Software & Services index jumped 2.9%. NVIDIA shares jumped around 3%, while Microsoft shares gained over 2%. Amazon shares rose nearly 1%, while Apple shares were up 0.5%.
Asian markets also recorded gains, with Japan’s Nikkei 225 being up 0.47%, as seen at 9 am IST. Earlier during the session, the index crossed the 59,000 mark for the first time ever amid lower expectations that the Bank of Japan will raise its interest rates further.
South Korea’s Kospi, meanwhile, jumped more than 2%. Hang Seng and Sanghai Composite however, were trading in the red with marginal losses.
European markets ended yesterday’s session in the green, with UK’s FTSE, France’s CAC and Germany’s DAX rising over 1%, around 0.5% and nearly 0.8% respectively.
Back home, the Indian rupee opened 0.1% higher against the US dollar at $90.84 on Wednesday.
Foreign investors remained net buyers of Indian equities yesterday, net purchasing shares worth Rs 2,991.64 crore on Wednesday. Domestic institutional investors also net bought equities worth Rs 5,118.57 crore yesterday.
Oil prices extended gains, as rising worries around possible military conflict between US and Iran spooked investors about the possibility of supply disruptions. Brent crude futures were up 15 cents at $71 per barrel, while WTI Crude was up 9 cents at $65.51 per barrel, as seen at 9.30 am.