Sensex and Nifty Open Higher Driven by Global Rally and Lower Oil Prices

Stock markets opened higher on Tuesday following gains in global markets and lower crude oil prices. The BSE Sensex rose 42.51 points to reach 74,901.50 in early trade, while the NSE Nifty gained 39.75 points to stand at 23,454.05. Shortly after, the BSE index moved further up by 115.62 points to 74,974.61, and the Nifty climbed 40.50 points to 23,455.60.

Market Movers And Global Cues

Among the thirty Sensex companies, HDFC Bank, Adani Ports, Eternal, Interglobe Aviation, Maruti, and Asian Paints recorded gains. At the same time, HCL Tech, Infosys, Tech Mahindra, Tata Consultancy Services, and Sun Pharma traded as laggards. Brent crude oil traded higher by 0.80 percent at 101.1 dollars per barrel. V K Vijayakumar, chief investment strategist at Geojit Investments Limited, stated that cooling crude prices and US bond yields boosted risk sentiment in US markets, which also helps other equity markets. He added that the secondary market in the country will see renewed focus because the NSE IPO is finished and refunds will add liquidity. Across Asia, South Korea's Kospi, Shanghai's SSE Composite, and Hong Kong's Hang Seng index all traded in positive territory following strong closes in US markets on Monday.

Geopolitics And Past Trade Data

Ponmudi R, CEO of Enrich Money, noted that optimism is growing around a potential meeting between US President Donald Trump and Iranian President Masoud Pezeshkian at the UN General Assembly in New York, despite both countries exchanging threats over the weekend. Meanwhile, exchange data showed that Foreign Institutional Investors sold equities worth 576.20 crore rupees on Monday. On that same previous day, the Sensex had jumped 564.03 points to close at 74,858.99, while the Nifty rose for the fourth straight day by 67.90 points to end at 23,414.30.