The benchmark equity indices climbed in early trade on October 25 after facing a heavy drubbing in previous trade, amid positive trends in global markets and foreign fund inflows.
| Photo Credit: Paul Noronha
The benchmark equity indices climbed in early trade on October 25 after facing a heavy drubbing in previous trade, amid positive trends in global markets and foreign fund inflows.
Softening crude oil prices also helped the market recover.
The 30-share BSE Sensex climbed 193.64 points to 64,765.52 in early trade. The Nifty advanced 54.55 points to 19,336.30.
Among the Sensex firms, JSW Steel, Tata Steel, HCL Technologies, Kotak Mahindra Bank, State Bank of India and Axis Bank were the major gainers.
Infosys, NTPC, Hindustan Unilever and Titan were among the laggards.
In Asian markets, Tokyo, Shanghai and Hong Kong traded in positive territory, while Seoul quoted lower.
The U.S. markets ended in the green on October 23.
Global oil benchmark Brent crude climbed 0.07% to $88.13 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth ₹252.25 crore on October 23, according to exchange data.
“The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near term.
“Positive news like a decline in U.S. bond yields and weakening crude can help the market revive, but it may not sustain given the uncertainty surrounding the West Asian conflict,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Equity markets were closed on October 24 on account of Dasara festival.
The BSE benchmark plunged 825.74 points or 1.26% to settle at 64,571.88 on October 23. The Nifty fell 260.90 points or 1.34% to 19,281.75.
