Stock Markets Rise In Early Trade; Sensex Gains 307 Points

Benchmark equity indices surged in early trade on Wednesday, with the Sensex up 307 points, boosted by favorable Asian market trends and a clear majority for the NDA in the Lok Sabha elections.

The 30-share BSE Sensex soared 307.24 points, or 0.42 percent to 72,386.29. The NSE Nifty advanced 17.40 points, or 0.35 percent to 21,963.00.

Marico, Hindustan Unilever, Dabur India, United Spirits, Britannia Industries, Tata Consumer, Asain Paints, Hero MotoCorp, Nestle India, Colgate-Palmolive, Godrej Consumer, and Zydua were the top gainers.

Among the laggards were Adani Energy Solut., Adani Power, RECL, L&T, IRCTC, Hindalco, HAL, Bharti Electronic, Power Grid Corp, NTPC, IRFC, and Power Finance Corp.

In Asian markets, Hong Kong, Indonesia, South Korea, Taiwan, and Thailand were trading higher, while Shanghai, Malaysia, Tokyo, and Singapore were trading lower.

US markets concluded in positive territory on Tuesday.

Brent crude lost 0.04 percent to USD 77.49 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 12,436.22 crore on Tuesday.

On Tuesday, the Sensex dipped 4389.73 points, or 5.74 percent to 72,079.05, while the Nifty sank 1379.40 points, or 5.92 percent to 21,884.15. It was the biggest decline since March 23, 2020, when lockdown was imposed due to the COVID-19 pandemic.

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