- Indian stock market rebounded after two days of losing momentum.
- Sensex climbed 190 points, Nifty gained 22 points in early trade.
- Easing crude oil prices and IT stock value buying fueled recovery.
Indian stock market rebounded on Wednesday, September 30 as key equity indices-- Sensex and Nifty-- traded in green after erasing two days of losing momentum amid easing crude oil prices and value buying in blue-chip IT stocks. In early trade, Sensex, the 30-share index of BSE, advanced 190 points to 72,733.04. At the same time, the 50-share NSE Nifty was up 22 points to 22,735.20.
“Indian equities opened on a relatively steady note, offering some respite after the recent stretch of weakness, as a moderation in crude oil prices provided an early lift to sentiment. The gains, however, remain measured, with investors still cautious amid persistent geopolitical uncertainty and the risk of further disruptions to global energy supplies,” said Ponmudi R, CEO Of Enrich Money.
Top Losers And Gainers
Gainers | Losers |
|---|---|
Tata Consultancy Services | Adani Ports |
Tech Mahindra | HDFC Bank |
HCL Tech | Sun Pharma |
InterGlobe Aviation | NTPC |
ICICI Bank | |
Trent |
Crude Prices Decline
Crude prices in the international futures market declined below $105 per barrel. Last seen, Brent crude, the global oil benchmark, was at level of USD 103.3 per barrel. Meanwhile, WTI crude was trading around 89–90 a barrel. The decline provides some marginal relief on India’s import bill and inflation pressures.
Asian Markets Trade Mix
Asian markets traded mixed with South Korea's KOSPI and Hong Kong's Hang Seng index were in negative territory in early trade, while Shanghai's SSE Composite index and Japan's Nikkei 225 index quoted marginally higher. Meanwhile, US markets closed in red on Tuesday.
Key 3 Highlights of Market
1- Sensex, Nifty recovered after two days of losses this week, with Sensex advancing 190 points to 72,733.04 and Nifty rising 22 points to 22,735.20.
2- International crude prices dropped below $105 per barrel, with Brent crude at USD 103.3 and WTI around 89–90, providing marginal relief on India's import bill and inflation pressures.
3- Asian markets traded mixed with South Korea's KOSPI and Hong Kong's Hang Seng in negative territory, while Shanghai's SSE Composite and Japan's Nikkei 225 quoted marginally higher.