Following a severe beating in the previous trade, benchmark equity indices rose in early trade on Wednesday due to favorable trends in international markets and inflows of foreign capital.
The recovery of the markets was also aided by declining crude oil prices.
In early trading, the 30-share BSE Sensex increased 193.64 points to 64,765.52. The Nifty reached 19,336.30, up 54.55 points.
The top gainers among the Sensex companies were JSW Steel, Tata Steel, HCL Technologies, Kotak Mahindra Bank, State Bank of India, and Axis Bank.
NTPC, Titan, Infosys, and Hindustan Unilever were a few of the underachievers.
Seoul quoted lower in the Asian markets, while Tokyo, Shanghai, and Hong Kong traded in the positive territory.
Tuesday’s US market close was positive.
The benchmark for world oil, Brent crude, increased by 0.07 percent to USD 88.13 per barrel.
Exchange data indicates that on Monday, equities worth Rs 252.25 crore were purchased by Foreign Institutional Investors (FIIs).
“The Israel-Hamas conflict’s uncertainties will continue to affect markets in the near future.
According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “positive news like a decline in US bond yields and weakening crude can help the market to revive but it may not sustain given the uncertainty surrounding the West Asian conflict.”
Tuesday’s stock markets were closed due to the Dussehra holiday.
On Monday, the BSE benchmark fell 825.74 points, or 1.26 percent, to close at 64,571.88. The Nifty dropped to 19,281.75, down 260.90 points, or 1.34 percent.
