Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, rallied strongly to close approximately 1 per cent higher on Wednesday, following positive trends in global markets as tensions decreased between Iran and Israel after their ceasefire agreement.
The broader NSE Nifty increased by 200.40 points or 0.80 per cent to reach 25,244.75. The 30-share Sensex rose by 700.40 points or 0.85 per cent, closing at 82,755.51. During trading, it reached a high of 82,815.91, up by 760.8 points or 0.92 per cent.
"Indian equity markets have staged a recovery, supported by easing geopolitical tensions in the Middle East and a moderation in crude oil prices. While FIIs continue to withdraw capital, positive global cues are helping sustain domestic market momentum. Domestically, a favourable monsoon forecast, and moderating inflation are further underpinning the optimism," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Among Sensex constituents, Titan, Mahindra & Mahindra, Infosys, Power Grid, Tata Consultancy Services and Bharti Airtel emerged as primary gainers.
Conversely, Bharat Electronics, Kotak Mahindra Bank and Axis Bank showed declines.
Asian markets displayed strength, with gains in South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite and Hong Kong's Hang Seng indices.
European markets showed varied performance during mid-session trading.
The US markets concluded Tuesday's session with substantial gains.
The global oil benchmark Brent crude increased by 1.21 per cent to USD 67.95 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 5,266.01 crore on Tuesday, while Domestic Institutional Investors (DII) purchased stocks valued at Rs 5,209.60 crore.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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