The Indian benchmark indices ended higher on Wednesday as the Sensex ended above 75,273 rising more than 1,200 points and the Nifty ended at 23,306 jumping 394 points at 3:30 PM.
Asian Markets Trade Higher
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were trading in positive territory.
The US market ended lower on Tuesday.
Geopolitical Hopes Lift Sentiment
Hope is returning to the market with indications of de-escalation in the conflict. Remarks from President Trump and from the Iranian regime indicate that the conflict might end soon. Particularly the reiteration from Iran that “non-hostile ships can transit the Strait of Hormuz” is good news that will mitigate India’s energy concerns.
These positive geopolitical developments have reflected in sharp decline in Brent crude to around USD 98, V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.
Institutional Flows
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,009.56 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 5,867.15 crore.
Market Opening Trend
The Indian stock market opened on a positive note with a gap-up, extending Tuesday’s strong recovery, supported by optimism around potential de-escalation in Middle East tensions, Ponmudi R, CEO of Enrich Money, said.
Previous Session Performance
On Tuesday, the Sensex jumped 1,372.06 points or 1.89 per cent to settle at 74,068.45. The Nifty surged 399.75 points or 1.78 per cent to end at 22,912.40.
