Share Market Rallies Today: Sensex Over 79K, Nifty Nears 24K As US Vice President's Visit Lifts Sentiment Among Investors
On Sensex, Tech M, Axis Bank, SBI, IndusInd Bank, and Infosys emerged among the gainers while, Adani Ports, Eternal, ITC, Bharti Airtel, and HUL stood as the laggards in the morning hours.
The Indian stock market began trading this week with a positive sentiment. The benchmark indices, Sensex and Nifty, rallied ahead on Monday, backed by a boost in banking stocks. Positive results from major names in the banking sector like ICICI Bank and HDFC Bank added to the boost in the market.
As such, the BSE Sensex climbed more than 400 points to trade near 79K around 9:25 AM, while the NSE Nifty50 jumped over 100 points and crossed 23,950 in the session around the same time.
On the 30-share Sensex, Tech M, Axis Bank, SBI, IndusInd Bank, and Infosys emerged among the gainers in the session. On the other hand, Adani Ports, Eternal, ITC, Bharti Airtel, and Hindustan Unilever stood as the laggards in the morning hours.
In the broader markets, the Nifty Midcap 100 dominated the gains and climbed 1.32 per cent. Sectorally, the PSU Bank index stood ahead in green and jumped 2.15 per cent, followed by the Midsmall IT & Telecom index which rallied up 1.95 per cent in the session so far.
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Gold Prices And Global Markets
Gold prices also hit fresh record highs today, while the dollar weakened amid concerns around Donald Trump’s aggressive tariffs. Global markets witnessed a mixed trend. In Asia, China, Bangkok remained in green, while Japan, Seoul, and Jakarta traded in red. The S&P 500 closed trading on Thursday after inching up 0.13 per cent, while the Dow Jones declined 1.33 per cent in the last session.
US Vice President JD Vance's India Visit
In addition to a rally in banking stocks, sentiment was also uplifted by US Vice President JD Vance’s visit to India. The meeting brings with it a hope that India and the US can secure a quick trade deal and this could help protect the Indian markets from the heavy tariffs levied by the US.
“As earnings season progresses, market participants will scrutinise corporate commentaries for insights into how businesses adapt to the new tariff regime and what they observe throughout their supply chains and customer bases,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.
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