Stock Market: Sensex Gains 140 Points; Nifty Around 19,300 Amid Volatility. Metal, PSU Banks Shine

Stock update: On the 30-share Sensex platform, Tata Steel, JSW Steel, HCLTech, Bajaj Finserv, Wipro, Kotak Bank, SBI emerged early gainers

The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading in the green amid volatility and ease in crude oil prices. At 9.44 am, the BSE Sensex rose 140 points to 64,712. On the other hand, the NSE Nifty50 gained 38 points to 19,320.

On the 30-share Sensex platform, Tata Steel, JSW Steel, HCLTech, Bajaj Finserv, Wipro, Kotak Bank, SBI emerged early gainers. On the downside, NTPC, Infosys, Titan, HUL, and Airtel were among losers. Among specific stock, Delta Corp soared 5 per cent after the Bombay HC directed DGGI Hyderabad to not pass final orders on Rs 16,195-crore tax notice against the company without its prior permission.

In the broader markets, the BSE Midcap and Smallcap indices jumped 0.7 per cent and 1.2 per cent, respectively.

Sectorally, all the indices are trading in the positive zone, with metal and PSU Bank indices up 0.5-1 per cent.

In the previous session on Monday, Sensex settled at 64,572, at a loss of 826 points, while the NSE Nifty50 ended trading at 19,278, a drop of 264 points. Markets remained closed on Tuesday on account of Dusshera.

"The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near term. Positive news like decline in the US bond yields and weakening crude can help the market to revive but it may not sustain given the uncertainty surrounding the West Asian conflict," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In Asian markets, Tokyo, Shanghai, and Hong Kong traded in the positive territory while Seoul quoted lower. The US markets ended in the green on Tuesday.

Global oil benchmark Brent crude climbed 0.07 per cent to $88.13 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 252.25 crore on Monday, according to exchange data.

Meanwhile, the rupee appreciated by 5 paise to 83.11 against the US dollar in early trade on Wednesday, tracking a weak America currency and softening crude oil prices in the overseas market. Some buying by foreign equity investors supported the Indian currency even though it was pressured by a subdued sentiment in the domestic equity markets, forex traders said.

At the interbank foreign exchange market, the local unit opened stronger by 8 paise at 83.08 and then touched the lowest level of 83.11 against the greenback, registering a gain of 5 paise from its previous close.