Sensex Up 272 Points, Nifty Continues Bull Run As Crude Slips Below $80 Per Barrel After Peace Agreement

Indian benchmark indices opened in green for the third consecutive day on Wednesday.

Sensex opened 272 points higher at 77,080 points. The 30-share benchmark further surged to 77,134 points which is 0.4 percent higher than the previous closing level of 76,808 points.

Nifty also opened higher at 24,044 points compared to the previous close of 23,989 points. Similar to Sensex, the 50-share benchmark further surged to 24,087 points, higher by 0.4 percent compared to the previous closing level.

Out of the 3,100 stocks trading on the National Stock Exchange on Tuesday, 1,868 stocks advanced while 1,133 declined.

Among the gainers of Nifty 50 lot, Trent remained at the top with a gain of 3.98 percent.

Metal and information technology stocks continued to dominate the pecking order.

The stock of Hindalco gained 1.65 percent while JSW Steel climbed over 1 percent. Tata Steel was also up almost by the same measure.

IT stocks like Tech Mahindra and Wipro were up by 1.3 percent and 1 percent, respectively.

Among the sectoral indices, Nifty Consumer Durables was the biggest gainer. The index climbed 2.12 percent. This was followed by Nifty Metal which raised over 1 percent.

While the rally in the market was subdued compared to previous two sessions, indices have continued to remain strong while situation at the war front remains favourable.

Brent Crude has declined below the $80 per barrel mark for the first time since the war began.

However, all is not well in the Gulf despite the positive sentiment in the market. According to a report by Aljazeera, Iran has accused Israel of violating the truce in Lebanon 84 times since the memorandum of understanding was agreed to between Tehran and the US. Iran has warned of a “harsh response” if attacks continue.

Israel has already said that its operation against the Hezbollah in Lebanon will continue despite the peace truce of its war ally the US.