The markets on Wednesday morning opened higher with Sensex at 65,311.58, up by 235.76 points and Nifty was at 19,423 with a gain of 80.35 points. Jio Financial Services, Tech Mahindra, Axis Bank, HCL Tech and Tata Steel were the top gainers in the morning session, whereas Power Grid, Hindustan Unilever and Asian Paints were among the losers.
Markets on Tuesday
The benchmark indices ended on a positive note on Tuesday. The 30-share BSE Sensex was up 103.42 points to end the day at 65,100.02 and the NSE Nifty went up by 43.60 points to end the day at 19,349.65. Nifty Bank gained 19.30 points at 44,513.95.
US markets continued their higher trend on Tuesday on the back of Tesla, Nvidia and other mega cap growth stocks. This comes after a drop in monthly job openings confirmed the expectations of a pause in the interest hike cycle by the Federal Reserve. The Dow Jones Industrial Average gained 0.85 per cent at 34,852.67, the S&P 500 closed higher with a 1.45 per cent gain at 4,497.63 and Nasdaq Composite rose 1.74 per cent to 13,943.76.
The S&P gained its strongest one-day gain since June 2 and Nasdaq saw one of its strongest sessions since July 28. Additionally, both indices closed at more than two-week high.
The Asian stock markets were majorly trading higher on Wednesday with South Korea's KOSPI adding 20.43 points at 2,572.59, Hong Kong's Hang Seng gained 154.67 points at 18,638.70 and Japan's Nikkei 225 rose 253.52 points at 32,480.49. However, GIFT Nifty exchange was trading flat at 19,418.50.
Oil prices were trading higher on Wednesday morning after data revealed a large draw in crude inventories in the US in addition to the concerns regarding a hurricane in the Gulf of Mexico. Brent crude futures for October that expired on Thursday gained 17 cents at $85.66 per barrel and US West Texas Intermediate crude fell to $81.40 per barrel with a gain of 24 cents.
The Indian rupee opened higher on Wednesday morning at 82.66 per dollar against Tuesday's close of 82.70.