Nifty Above 24,200, Sensex Up More Than 250 Points, ONGC Up 2%

Nifty Holds Above 24,200, Sensex Gains Over 250 Points, ONGC Climbs 2%

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: November 12, 2024

Summary: The US market's performance helped the Indian main equity indices, the BSE Sensex and Nifty 50, open higher on Tuesday.

Tuesday's opening higher for Indian benchmark equity indices BSE Sensex and Nifty 50 came from US market strength.

The BSE Sensex was at 79,746, up 250 points, or 0.31 percent; the Nifty 50 was at 24,225, up 84.5 points, or 0.35 percent, at the opening bell.

The performance of domestic companies during the September quarter would be the top concern for investors as foreign institutional investors (FIIs) continue to sell Indian equities and purchase US and, to a lesser extent, Chinese stocks in the wake of Donald Trump's victory.

Nonetheless, as oil prices fell and bitcoin surged to a new record high, Wall Street began a busy week on Monday by hanging on to gains from the stock market rally that followed Donald Trump's election triumph.

Amid a cautious mood, Asia-Pacific markets saw mixed results on Tuesday.

The S&P/ASX 200 in Australia fell 0.42 percent. While the Topix increased by 0.86 percent, Japan's Nikkei 225 added 0.57 percent. The Kosdaq Index fell 1.41 percent, and the South Korean stock exchange's Kospi fell 0.73%.

China's CSI300 was up 0.66 percent, the Shanghai Composite was down 0.04%, and Hong Kong's Hang Seng index was down 0.49 percent.

The Dow Jones Industrial Average increased 0.7% to 44,293 in the US equities markets, the S&P 500 increased 0.1% to 6,001, and the Nasdaq Composite hardly moved at 19,298.

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