Stock Markets End Higher As Sensex Rises Over 130 Points, Nifty Tests 24K

Previously, during the early morning session, the Sensex Sensex jumped 553 points to 77,603.57 in early trade and the Nifty went up by 148.15 points to 24,198.40 at 9:15 AM.

On Tuesday, the BSE Sensex declined 561.46 points, or 0.72 per cent, to close at 77,054.94.

Source : ABPLIVE AI

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Key points generated by AI, verified by newsroom

• Indian markets closed higher; Sensex and Nifty gained.
• Global markets gained due to softening US inflation data.
• Brent crude held above $85; FIIs sold equities.

The Indian benchmark indices gained on Wednesday as the Sensex rose over 130 points to close at 77,185 and the Nifty inched up 22 points to close trade at 24,074 at 3:30 PM.

In the 30-share BSE Sensex, among the top gainers were stocks such as Eternal, Ultra Cement, State Bank of India, Bajaj Finance and IndiGo. Meanwhile, the laggards included Trent, Kotak Bank, Mahindra and Mahindra, Axis Bank and TCS.

In the broader markets, the Nifty Smallcap 250 rose 0.68 per cent as volatility declined. Sectorally, Nifty Cement rose 1.79 per cent and the Nifty IT fell 0.67 per cent.

Previously, during the early morning session, the Sensex Sensex jumped 553 points to 77,603.57 in early trade and the Nifty went up by 148.15 points to 24,198.40 at 9:15 AM.

Asian Markets

Asian equity markets traded mostly higher on Wednesday after softer-than-expected US inflation data strengthened expectations of a more accommodative Federal Reserve policy.

South Korea's Kospi surged 7.66 per cent. Japan's Nikkei 225 and Hong Kong's Hang Seng also traded in positive territory, while China's Shanghai SSE Composite index quoted lower.

Wall Street Ends Higher

US markets closed with gains on Tuesday.

"Global cues turned relatively supportive overnight. US equities ended higher, with the S&P 500 gaining 0.38 per cent and the Nasdaq advancing 0.90 per cent, after softer-than-expected June CPI data reinforced hopes of a more accommodative Federal Reserve policy," Rajesh Palviya, Head of Research, Axis Direct, said.

Brent Crude Holds Above $85

Palviya said Brent crude moved towards USD 85 per barrel after US President Donald Trump withdrew the proposed 20 per cent transit fee through the Strait of Hormuz.

Brent crude, the global oil benchmark, was trading 1 per cent higher at USD 85.63 per barrel.

FIIs Continue Selling

Foreign Institutional Investors (FIIs) sold equities worth Rs 739.69 crore on Tuesday, according to exchange data.

US Inflation Supports Global Sentiment

Providing support to global markets, US consumer price inflation eased to 3.5 per cent in June, below market expectations of 3.8 per cent, indicating that underlying price pressures may be moderating.

"The softer-than-expected inflation reading has reinforced expectations that the Federal Reserve could adopt a less aggressive monetary policy stance in the coming months, offering some relief to global risk assets despite the heightened geopolitical uncertainty," Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.

Sensex, Nifty End Lower

On Tuesday, the BSE Sensex declined 561.46 points, or 0.72 per cent, to close at 77,054.94.

The NSE Nifty fell 158.95 points, or 0.66 per cent, to settle at 24,052.05.