Why Is Stock Market Rising Today? Sensex Gains Despite Asian Market Weakness and Falling Crude Prices
The Indian stock market opened higher on Tuesday, following the gains in IT stocks in the early morning trading session. Wall Street was broadly steady in overnight trading. A big rout in some Asian equity. . .
The Indian stock market opened higher on Tuesday, following the gains in IT stocks in the early morning trading session. Wall Street was broadly steady in overnight trading. A big rout in some Asian equity markets weighed on trader sentiment, while crude prices eased. Major buying in IT carried the benchmarks to fresh peaks even on negative global cues. With the BSE Sensex quoted 145. 87 points higher at 76,981. 65, or 0. 19 per cent, and having reached a day’s high of 76,980. 50 a few minutes earlier, technology shares rose to a day’s high of 14,822. 69 on the back of purchasing interest on Monday. The BSE Sensex traded higher by a good margin, opening higher and registering a day’s high of 76,980. 50 in the early part of the session after gapping up for another record high of 76,831. 75; on close, the BSE Sensex closed at 76,835. 78 and traded 145. 87 pts or 0. 19 per cent higher, at 76,981. 65. Likewise, Nifty 50 shares have also gained 36. 70 points or 0. 15 per cent, reaching 24,032. 65 levels with a session’s high of 24,040. 90 in the early minutes of the session, indicating that during corrections, investors can definitely buy on dips, sentiment-wise. IT Stocks Carry The WeightTechnology stocks were the biggest movers in the market in early trade. The Nifty IT index was the best-performing sector for the morning, jumping 2. 72%. Buying was seen everywhere, with TCS leading the rally up 3. 23%. Tech Mahindra jumped 2. 59 per cent, Infosys was up 2. 53 per cent and HCLTech gained 1. 62 per cent. A rally in IT stocks supported a few heavyweight sectors that had been under pressure and helped keep the benchmark indices comfortably in positive territory. Nifty FMCG and Nifty Realty moved 0. 46 per cent higher each among other sectoral indices and media stocks also traded marginally higher. Shares of banks, however, remained under pressure with Nifty Bank easing 0. 12% and BSE Bankex lower by 0. 13%. Top Early Trading Winners & LosersBesides the IT pack, stocks such as Eternal, Hindustan Unilever, L&T, IndiGo and Titan attracted buying interest. Meanwhile, some of the heavyweights in the market traded lower. BEL was the biggest loser, falling 2. 36 per cent. It was followed by Power Grid, NTPC, Reliance Industries, SBI and Adani Ports. The rise in the benchmark indices was capped by a fall in these stocks. Other Global Markets Show Signs of UneaseIndian stocks started the day higher but rest of Asia showed a subdued mood Semiconductor stocks fall The market is suffering sharp falls across Asia due to sharp drops in chip makers on concerns over increased competition from Chinese chip manufacturers. The Nikkei index in Japan was off about 4. 5 per cent, while South Korean shares of the KOSPI index were down more than 9 per cent due to sharp falls in chip majors including Samsung Electronics and SK Hynix. The Shanghai Composite in China fell, while the Hang Seng remained slightly positive. Indian IT stocks edged higher at opening, but a steep correction in other Asian markets may leave global investors feeling jittery. Oil Prices Slump as West Asian Diplomacy Gains Steam; Wall Street Closes MixedUS markets are trading mixed at close as the Dow Industrial gained 0. 51 per cent, the S&P 500 Index gained 0. 02 per cent and the Nasdaq Composite Index dropped 0. 18 per cent. The mood among investors is buoyed as news emerges from the US and Iran that the two countries have shelved plans for an armed attack and the two have restarted talks, thereby paving the path to de-escalation. The Brent crude oil was down around 1. 4 per cent at $87. 14, while WTI crude oil was also trading down by 1. 4 per cent at $81. 47. Lower oil prices are generally considered positive for India as they help contain inflation and reduce import costs. What Investors Need To Be Watching TodayOpening trade suggests that domestic investors are still favouring technology stocks, even as overseas markets remain under pressure. Sustenance of the gains in Sensex and Nifty will depend on the developments in the global market during the day, movement in crude oil prices and whether buying gets broad-based beyond the IT sector, they added. For now, the market is giving a straightforward message. IT is leading the way, but the volatility in the global markets is something investors can’t ignore. (Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions. )Also Read:Can RBI Keep The Rupee Stable Despite Oil Volatility? Here’s What Experts Expect Ahead Of MPCPriyanka Roshan is a business writer and assistant editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences. You Might Be Interested InWith over 9. 5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them. You may also like----------------------------------------------------------------------------------------------