नवीनतम
Sensex jumps 885.32 points
MUMBAI [Maha Media]: Benchmark indices Sensex and Nifty extended their previous session's rally in early trade on Wednesday, tracking a sharp decline in crude oil prices and a positive trend in Asian markets, amid hopes of de-escalation in the West Asia war.
The 30-share BSE Sensex jumped 885.32 points to 74,953.77 in early trade. The 50-share NSE Nifty surged 307.65 points to 23,220.05.
From the 30-Sensex firms, Mahindra & Mahindra, UltraTech Cement, Adani Ports, HDFC Bank, Trent and Eternal were the biggest gainers.
Sectorally, most indices traded in the green, led by auto, realty and media stocks. Nifty Auto rose 1.47 per cent, followed by Nifty Realty (1.39 per cent), Nifty Media (1.30 per cent), and Nifty Metal (1.23 per cent). PSU banks and financial services indices also posted gains of over 1 per cent, while the IT sector remained under pressure.
Broader markets mirrored the positive sentiment, with the Nifty Midcap 100 and Nifty Smallcap 100 advancing around 1 per cent each.
Analysts said that apart from macroeconomic cues, stock-specific developments are expected to drive selective action in the near term. While global factors have supported a positive opening, they cautioned that the broader market structure remains fragile.
“Sustained upside will require a decisive breakout above key resistance levels, failing which the prevailing sell-on-rise approach is likely to dominate near-term sentiment,” analysts noted.
They advised investors to adopt a disciplined and selective strategy amid ongoing global uncertainties and heightened volatility. Accumulating fundamentally strong stocks during corrections may be prudent, while fresh long positions should ideally be initiated only after Nifty decisively crosses and sustains above the 24,500 level.
On the global front, crude oil prices witnessed a sharp decline amid ceasefire hopes. Brent crude futures fell 7 per cent to an intraday low of $97.18 per barrel, while US WTI crude dropped over 6 per cent to $86.72.
Meanwhile, Wall Street indices ended lower, with the S&P 500 and Nasdaq declining 0.84 per cent and 0.37 per cent, respectively.
In contrast, Asian markets traded strongly higher. Japan’s Nikkei surged 3.26 per cent, South Korea’s KOSPI rose 3.36 per cent, and Hong Kong’s Hang Seng gained 1.30 per cent.
