Mumbai: On Wednesday morning, Indian stock markets started strong after falling for eight straight sessions. Investors were seen buying stocks at lower prices, especially in big companies like Reliance Industries. This helped boost overall market confidence.
Sensex and Nifty Rebound
The BSE Sensex rose by 142.63 points, reaching 80,410.25, while the NSE Nifty climbed 50.75 points to 24,661.85 during early trade. These gains follow a drop of over 2,700 points in the Sensex over the past eight sessions.
Top Gainers and Losers
Some of the major gainers in the Sensex pack included Sun Pharma, Trent, Tech Mahindra, Mahindra & Mahindra, Tata Motors, and Reliance Industries. On the flip side, Bajaj Finance, Bajaj Finserv, Eternal, and Bharti Airtel were among the top losers.
Global Cues Mixed
In Asia, South Korea’s Kospi was trading higher, while Japan’s Nikkei 225 slipped. US markets closed higher on Tuesday, giving some support to Indian equities.
All Eyes on RBI Policy
Market experts said that all attention is now on the Reserve Bank of India’s (RBI) monetary policy decision, expected later today. Investors are looking for signals on whether interest rates will change and what RBI’s message will be for the future.
FII and DII Activity
On Tuesday, Foreign Institutional Investors (FIIs) sold stocks worth Rs 2,327.09 crore, while Domestic Institutional Investors (DIIs) bought heavily, investing Rs 5,761.63 crore, according to stock exchange data.
Oil Prices Fall
Brent crude oil dropped by 1.40 percent, trading at USD 67.02 per barrel, which may help keep inflation pressures lower.
