Stock Market Live Updates: Sensex Soars 500 Points, Nifty Above 25,550 in Strong Comeback

Indian Stock Market Opening: Wednesday morning brought relief and hope for the Indian stock market. Following Tuesday’s massive disturbance on Dalal Street, which saw the Sensex plummet 1,068 points, the market made a strong comeback. The Bombay Stock Exchange (BSE) Sensex opened this morning with a jump of over 500 points, while the National Stock Exchange (NSE) Nifty 50 also crossed the crucial level of 25,550.

Today’s strong opening was primarily driven by positive signals from global markets and buying by domestic institutional investors:

Last night’s rally in the US market (Wall Street) has boosted Indian investors. Both the Dow Jones and Nasdaq closed with strong gains. The recovery, particularly in tech stocks, has supported the Indian IT sector.

Asian markets witnessed a strong rally this morning. South Korea’s Kospi touched a historic high of 6,000 for the first time, while Japan’s Nikkei is also trading at a record high. Strong cues from the Gift Nifty had already set the stage for a strong gap-up opening.

Despite Tuesday’s sharp decline, domestic institutional investors (DIIs) provided strong support to the market. According to provisional data, DIIs made net purchases worth approximately ₹3,161 crore, offsetting the impact of modest selling by foreign portfolio investors (FPIs).

In today’s morning trade, IT stocks, which were yesterday’s biggest losers, have shown the fastest recovery. The Nifty IT index is seeing a strong gain.

Tech Mahindra and HCL Tech are trading with gains of up to 3 percent this morning. NTPC, Coal India, and Tata Steel are also seeing strong buying.

Despite this widespread market rally, select stocks are under pressure. Realty and some auto stocks are seeing mild profit-booking. Stocks like Signature Global and Prestige Estates are trading in the red.

While investors lost ₹2.85 lakh crore in yesterday’s decline, the market cap is recovering as soon as the market opened today. Currently, the total market cap of the BSE has risen to around ₹468 lakh crore. The Indian Rupee also opened almost stable at 90.93 against the US Dollar today, which is a good sign for the market.