Share Market Today: The stock market appears to be in recovery mode today after Monday's decline. Both the Sensex and Nifty gained in early trading.
Indian stock market
Share Market Today: After a sharp decline on Monday, the first trading day of the week, the stock market is seeing a strong recovery today. The 30-share BSE Sensex opened at 74,212.47, up 1,516.08 points, or 2.09 percent. Similarly, the Nifty gained 346 points, or 1.54 percent, to close at 22,858.65.
The Indian stock market witnessed a sharp decline on Monday. By the end of trading, both major indices had seen significant declines. The Sensex fell 1836.57 points, or 2.46 percent, to close at 72696.39. The Nifty, on the other hand, plummeted 601.85 points, or 2.60 percent, to 22512.65.
Today's Top Gainers
In early trading today, shares of Shriram Finance (4.03 percent), Eicher Motors (3.12 percent), Asian Paints (3.03 percent), and Indigo (2.66 percent) are all trading in the green. Fortunately, all sectors, from auto to banking, pharmaceuticals, energy, and PSU banks, are trading in the green, with gains of 1-2 percent. Shares of HDFC Bank are also seeing gains.
Reasons for the rise in the stock market today
- US President Donald Trump said he has asked the US military to postpone attacks on Iran's power and energy infrastructure for the next five days. According to reports, this decision was made following recent talks between US and Iranian officials. Trump's statement indicates that he now wants to resolve the dispute through diplomacy rather than war. This is renewing investor confidence that war will be averted and risks will be reduced.
- As Trump hinted at averting attacks on Iran's oil and energy facilities, crude oil prices fell by more than 14% in international markets. This is good news for India, which is heavily dependent on oil imports.
- Meanwhile, HDFC Bank has also appointed two law firms to conduct an external investigation following the resignation of its former chairman. Following this order, the bank's shares are seeing a recovery of up to 2%.
Asian markets
Asian markets also saw gains on Tuesday. Japan's Nikkei 225 rose 2.2 percent. The Topix also gained 2.47 percent. South Korea's Kospi gained 3.5 percent, while the Kosdaq index jumped 3.29 percent. Australia's S&P/ASX 200 also rose, gaining approximately 0.74 percent.
US stock market
Wall Street closed higher on Monday. The Dow Jones Industrial Average rose 631 points, or 1.38 percent, to close at 46,208.47. The S&P 500 gained 1.15 percent to close at 6,581.00. Similarly, the Nasdaq Composite rose 1.38 percent to close at 21,946.76.
