Sensex and Nifty both rise in early trading on stable global market patterns
Amidst a surge in international markets, the equity benchmark indexes Sensex and Nifty increased in early trading on Wednesday, extending their winning streak to a fourth day.
In early trading, the 30-share BSE Sensex increased 242.49 points to 73,980.94. The NSE Nifty reached 22,431, up 63 points.
The top gainers from the Sensex basket were HDFC Bank, Tata Steel, JSW Steel, UltraTech Cement, Nestle, and Tata Motors.
The underachievers were ICICI Bank, Titan, Hindustan Unilever, and IndusInd Bank.
Seoul, Tokyo, Shanghai, and Hong Kong were trading in positive territory in the Asian markets.
On Tuesday, Wall Street concluded the day higher.
“The current bull market, which has overcome all obstacles, whether they be geopolitical or economic, is demonstrating the power of bull markets to scale fear barriers. The market was only momentarily affected by the tensions in the Middle East, according to V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The benchmark for world oil, Brent crude, increased by 0.02 percent to USD 88.44 a barrel.
According to exchange statistics, foreign institutional investors (FIIs) offloaded stocks worth Rs 3,044.54 crore on Tuesday.
The BSE benchmark closed Tuesday at 73,738.45, up 89.83 points, or 0.12%. Reversing much of its early gains, the NSE Nifty closed at 22,368 up 31.60 points, or 0.14 percent.
