New Delhi. Today both the stock market indices are rising rapidly. Both the indices are recovering from the huge fall on Monday.
In early trade today, the Sensex jumped 1,092.68 points to reach 79,852.08. The Nifty also rose 327 points to reach 24,382.60.
Top Gainer Stocks
Today, during early trade, all 30 Sensex companies are trading with gains. Tata Motors, Tech Mahindra, HCL Technologies, JSW Steel, HCL Technologies and Infosys gained the most.
When market valuations are elevated, unexpected news and events tend to cause markets to fall. This is what happened yesterday across most asset classes globally. Fears of a recession in the US and tensions in the Middle East, as well as the demise of the yen carry trade, all contributed.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services
State of the global market
Asian markets also rose sharply, with Seoul, Tokyo, Shanghai and Hong Kong trading higher. Japan’s benchmark stock index rose more than 10 percent. US markets closed with sharp cuts on Monday.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 10,073.75 crore on Monday. Global oil benchmark Brent crude jumped 1.27 per cent to US$ 77.27 per barrel.
Indian currency also rose
The rupee opened higher against the dollar today. On Monday, the rupee had hit a life time low. The rupee opened at 83.92 at the interbank foreign exchange market and then touched an early high of 83.84, registering a gain of 25 paise from its all-time low of 84.09 against the US currency. On Monday, the rupee fell 37 paise to close at an all-time low of 84.09 against the US dollar.
