Mumbai: The Indian stock market opened on a strong note on Tuesday. This came after a positive update on global tensions. US President Donald Trump announced a ceasefire between Iran and Israel, which brought relief to investors.
Sensex and Nifty Rise Nearly 1 percent
By 9:31 am, the Sensex had jumped 756.5 points to reach 82,653.33, up 0.92 percent. The Nifty also went up by 229 points, reaching 25,200.90, showing a 0.92 percent rise.
Buying Seen in Many Sectors
Investors showed interest in sectors like auto, IT, PSU banks, and financial services. These sectors performed well in early trade.
Bank Nifty and Midcap Indices Also Up
The Nifty Bank index was up by 557.25 points, trading at 56,616.60.
The Nifty Midcap 100 rose 411 points to 58,617.80, and the Nifty Smallcap 100 climbed 123.05 points to 18,443.95.
Analysts See Signs of Stability
Dr. VK Vijayakumar from Geojit Investments said the ceasefire news shows that the worst of the conflict might be over.
He added that falling crude oil prices and rising stock markets are signs that things are improving.
Aakash Shah from Choice Broking noted that the market is showing good buying at lower levels. But he added that for a strong upward move, Nifty must stay above 25,200 and Bank Nifty above 56,300.
Cautious Optimism Suggested
Even with this bounce, analysts suggest staying careful. The market is still facing uncertainty.
Top Gainers and Losers
The top gainers on the Sensex list were Adani Ports, M&M, UltraTech Cement, L&T, Titan, SBI, Asian Paints, Bajaj Finance, and Bajaj Finserv.
The main losers were NTPC, BEL, and Trent.
FIIs Sell, But DIIs Buy
On June 23, Foreign Institutional Investors (FIIs) sold stocks worth Rs 1,874.38 crore.
However, Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,591.77 crore, giving support to the market.
Global Markets Also Rise
Stock markets in Bangkok, Japan, China, Seoul, Hong Kong, and Jakarta were also trading higher.
In the US, the Dow Jones rose 374.96 points, S&P 500 went up 57.33 points, and the Nasdaq gained 183.56 points.
(With IANS Inputs)
