Sensex jumps 367 pts; Nifty above 24,450 as Adani Ports, ICICI Bank lead gains
Sensex jumps 367 pts; Nifty above 24,450 as Adani Ports, ICICI Bank lead gains
Indian equities open higher on upbeat global cues, led by Adani Ports and ICICI Bank as markets weigh US-Iran talks and crude prices.
Domestic benchmark indices opened higher on Tuesday, tracking cues from Asian peers amid rising positive sentiment over the US-Iran peace talks. At 9:17 am, the BSE Sensex gained 311.17 points, or 0.40%, to 78,831.47, after rising 367 points in early trade. The NSE Nifty rose 91.40 points, or 0.38%, to 24,456.25, briefly touching a high of 24,462.15.
Among Sensex constituents, Adani Ports jumped 1.30% to Rs 1598, ICICI Bank advanced 1.01%, while Axis Bank, Bajaj Finance and Eternal climbed 0.91%, 0.78% and 0.69%, respectively. In the short term, the market will continue to be news-driven, swinging between hope and fear, as reports of the second round of talks between the US and Iran keep hopes of a resolution alive.
From a technical standpoint, the 50-pack index continues to hold above the 24,300 level, suggesting some support for the ongoing uptrend. Broader Asian markets traded higher today, with Japan’s Nikkei 225 up and other indices following suit. Brent crude hovered around $95, a factor market watchers say could influence the asset class if crude prices remain elevated.
Overall, the morning moves suggest a cautious but positive start for traders, with key levels to watch on the Nifty and Sensex guiding momentum as earnings and geopolitical developments unfold.
