Indian equity markets started Wednesday’s trading session on a positive note (Img: Pexels)
New Delhi: Indian equity markets started Wednesday’s trading session on a positive note, supported by favourable global signals, easing crude oil prices and improved investor sentiment. The benchmark BSE Sensex gained over 236 points in early trade, while the Nifty 50 opened almost unchanged with a marginal rise.
The 30-share Sensex jumped 236.01 points, or 0.30%, to open at 77,892.10. Meanwhile, the Nifty 50 added 7.40 points to begin trading at 24,341.95. In the previous trading session, the Sensex closed at 77,656.09, while the Nifty ended at 24,334.55.
A decline in global crude oil prices helped improve market sentiment. Brent crude slipped to around $85.5 per barrel after touching nearly $94 last week, as concerns over possible supply disruptions eased.
Lower crude prices are considered positive for India’s economy as the country imports a significant portion of its crude oil requirements. The decline may help reduce pressure on inflation and corporate costs.
Market experts said easing tensions around global oil supplies and developments related to US-Iran ceasefire discussions have supported investor confidence.
The broader market indices also witnessed early gains. The BSE Midcap Select Index moved higher by 70.40 points, while the BSE Smallcap Select Index gained 44.93 points.
Market breadth remained positive on the National Stock Exchange, with more stocks advancing than declining during the opening session. A total of 1,974 stocks were trading higher, while 1,619 stocks declined. Around 108 stocks remained unchanged.
Gift Nifty, which provides an indication of Nifty 50’s opening trend, pointed towards a stable start for Indian markets. It opened with a gain of 32.5 points at 24,512.50 compared to the previous close.
Foreign Institutional Investors (FIIs) remained buyers in the Indian market on August 25, purchasing equities worth Rs 1,593.53 crore. Domestic Institutional Investors (DIIs) also continued buying activity, investing Rs 230.26 crore.
Asian markets mostly traded in positive territory following gains on Wall Street, where technology stocks supported a recovery ahead of Nvidia’s earnings announcement.
Japan’s Nikkei 225 gained 444.57 points or 0.68% to trade at 66,301. Hong Kong’s Hang Seng rose 193.90 points or 0.76%. South Korea’s Kospi climbed 126.08 points, gaining 1.84%, while Shanghai’s SSE Composite Index advanced 27.39 points or 0.70%.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial advice, or a recommendation to buy or sell any stock, security, or financial product.
