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Sensex jumps 280 points as Indian markets rally on strong earnings and global cues. Will this surge continue, or are investors bracing for a sudden reversal? Stay tuned for latest updates.
Indian Markets Jump as Sensex Gains 280 Points
New Delhi: Indian equity markets opened on a positive note on Wednesday, October 15 with the BSE Sensex rising 280 points to trade around 82,192 levels and the Nifty 50 crossing the 25,200 mark.
Market sentiment was bolstered by expectations of a US Federal Reserve interest rate cut and encouraging corporate earnings reports, which attracted both domestic and foreign investors.
The market rally was led by the realty, telecom, and banking sectors. Realty stocks gained momentum as positive infrastructure and housing demand reports fueled investor interest. In the telecom sector, major players saw sharp intraday gains due to higher subscriber numbers and improved revenue guidance.
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IT stocks also performed well, with Persistent Systems surging 6.7% after reporting robust quarterly results. Insurance companies like ICICI Lombard General Insurance jumped nearly 7%, following strong profit announcements for the September quarter.
Mid-cap and small-cap indices also recorded gains of 0.7% and 0.3%, respectively, indicating broader market participation beyond large-cap stocks. Analysts noted that improved domestic economic indicators and foreign fund inflows have supported these sectors.
Asian markets opened higher, with an average rise of 1.3%, providing further support to the Indian markets. Global investors reacted positively to remarks by US Federal Reserve Chair Jerome Powell, who indicated a potential interest rate cut due to stable inflation and a weakening labor market.
Lower US interest rates tend to make emerging markets like India more attractive for foreign investment, which is reflected in the current market rally.
However, lingering US-China trade tensions continue to pose a risk, and analysts urge investors to monitor global developments closely.
Technically, Nifty is facing resistance near 25,200, while support levels are identified between 25,000 and 24,900. Analysts suggest that while the market is showing strength in early trading, investors should maintain caution and watch for any signs of reversal or profit booking.
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Key stocks under observation include Axis Bank, Tech Mahindra, L&T Finance, and Mishra Dhatu, which may influence sectoral trends in coming sessions.
The positive opening reflects growing investor confidence in Indian equities, supported by strong corporate earnings and favorable global cues. While optimism prevails, market participants are advised to remain alert and consider potential volatility as the trading day progresses.
