Stock Market Surges: Sensex Soars 305 Points, Nifty Jumps 103 in Early Trade

Equity indices in India witnessed a strong rally in early trade on Wednesday, driven by continuous inflow of foreign funds and buying in IT stocks, Reliance Industries, and HDFC Bank. The BSE Sensex, comprising 30 major companies, rose by 305.44 points to reach 66,479.64, while the Nifty increased by 103 points to 19,992.70.

Several companies on the Sensex, including Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank, and Reliance Industries, experienced significant gains. However, Power Grid and NTPC were among the few laggards.

In Asian markets, Tokyo witnessed gains, while Seoul, Shanghai, and Hong Kong traded lower. Meanwhile, the US markets closed slightly higher on Tuesday.

Market experts believe that the positive global market conditions will continue to drive the rally in India. The drop in the US 10-year bond yield to 4.3% and the decline of the dollar index below 103 are considered favorable for equity markets.

In the global oil market, Brent crude declined by 0.02% to USD 81.66 per barrel.

Foreign Institutional Investors (FIIs) purchased equities worth Rs 783.82 crore on Tuesday, as per exchange data.

On Tuesday, the BSE benchmark climbed 204.16 points or 0.31% to settle at 66,174.20, while the Nifty gained 95 points or 0.48% to reach 19,889.70.

(Note: This article has been published as received from a syndicated feed and has not been edited by NDTV staff, except for the headline.)