Markets recover in early trade in line with firm global trends - watsupptoday.com
Markets recover in early trade in line with firm global trends
Posted 25 Oct 2023 12:10 PM

Image Source: Agencies

Benchmark indices rose early on Wednesday after a sharp decline in the previous session due to positive developments in global markets and inflows of foreign funds.
The drop in the price of crude oil also helped the market to recover.
The 30-share BSE Sensex rose 193.64 points to 64,765.52 in the opening session. The Nifty rose 54.55 points to 19,336.30.
Among the Sensex companies, the top gainers were JSW Steel, Tata Steel, HCL Technologies, Kotak Mahindra Bank, State Bank of India and Axis Bank. Infosys, NTPC, Hindustan Unilever and Titan lagged behind.
In the Asian markets, Tokyo, Shanghai and Hong Kong traded in positive territory, Seoul was quoted lower.
US markets ended in the green on Tuesday.
Brent crude, the global oil benchmark, rose 0.07 percent to $88.13 a barrel.
According to stock exchange data, foreign institutional investors (FIIs) bought shares worth 252.25 billion rubles on Monday. Uncertainty related to the conflict between Israel and Hamas will remain in the market in the near future.
Positive news such as lower US bond yields and weaker oil could help markets recover, but may not last due to uncertainty surrounding the conflict in West Asia, said V K Vijayakumar, investment strategist at Geojit Financial Services.
Stock markets were closed on Tuesday due to Dussehra festival.
The BSE index fell 825.74 points, or 1.26 percent, to 64,571.88 on Monday. The Nifty was down 260.90 points, or 1.34 percent, at 19,28

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