Markets Rise in Early Trade on Positive Asian Peers and Buying in Reliance
Sensex Gains Over 400 Points, Nifty Surges as Retail Inflation Eases
New Delhi : Indian stock markets opened on a strong note on Wednesday, driven by positive cues from Asian peers and significant buying interest in Reliance Industries. The 30-share BSE benchmark Sensex surged 401.53 points to 76,901.16, while the NSE Nifty advanced by 97.5 points to 23,273.55.
Strong performance was seen in stocks like Maruti, NTPC, Zomato, IndusInd Bank, Power Grid, and Kotak Mahindra Bank, while Bajaj Finserv, Axis Bank, and Mahindra & Mahindra were among the laggards.
Asian markets, including Seoul, Tokyo, and Hong Kong, traded in positive territory, although Shanghai was slightly lower. US markets had closed higher on Tuesday. The decline in retail inflation to 5.22% in December boosted investor sentiment, giving room for potential interest rate cuts by the Reserve Bank of India.
Brent crude oil prices rose slightly to $80.03 per barrel, adding to the overall positive market sentiment.
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