Indian benchmark indices, Sensex and Nifty, staged a significant rebound in early trade, reversing a two-day decline, as positive global market trends and strong performance in auto stocks instilled investor confidence.
Key Points
- Indian benchmark indices, Sensex and Nifty, saw a rebound in early trade after two consecutive days of decline.
- The recovery was supported by a positive trend in global markets and significant buying activity in auto sector stocks.
- Major gainers on the Sensex included Eternal, Mahindra & Mahindra, Maruti Suzuki India, and Titan.
- US markets closed in positive territory, with the Dow Jones, Nasdaq, and S&P 500 all showing gains.
- Asian markets, led by Japan's Nikkei, also traded with a positive bias, driven by AI-driven technology optimism.
Benchmark indices Sensex and Nifty rebounded in early trade on Wednesday after two days of decline amid a positive trend in global markets and buying in auto stocks.
The 30-share BSE Sensex climbed 182.42 points to 76,661.36 in early deals. The 50-share NSE Nifty went up by 49.90 points to 23,916.85.
Winners and Laggards on Dalal Street
From the Sensex pack, Eternal, Mahindra & Mahindra, Maruti Suzuki India, Titan, Hindustan Unilever, UltraTech Cement, Adani Ports and Asian Paints were among the major winners.
Bajaj Finserv, Tech Mahindra, Larsen & Toubro and NTPC were among the laggards.
How Global Markets Impacted Indian Equities
In Asian markets, Japan's Nikkei 225 index and Shanghai's SSE Composite index quoted higher, while South Korea's Kospi traded lower. Markets were closed in Hong Kong.
US markets ended in positive territory on Tuesday.
"Global cues remain constructive. Wall Street concluded its strongest quarter since 2020 on a firm footing, with the Dow Jones closing at a record 52,319, while a rally in semiconductor stocks lifted the Nasdaq by 1.5 per cent and the S&P 500 by 0.8 per cent," Rajesh Palviya, Head of Research, Axis Direct, said.
Asian markets are trading with a positive bias, led by Japan's Nikkei, which climbed over 1.6 per cent to fresh record highs on AI-driven technology optimism, he added.
Investor Activity and Oil Prices
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,556.75 crore on Tuesday, according to exchange data.
Brent crude, the global oil benchmark, traded 0.40 per cent higher at $73.24 per barrel.
