Domestic stock indices opened on a positive note on International Yoga Day, with the benchmark Sensex crossing the 54,000 mark for the first time. The Sensex was trading at 54,025.41, up 1.15%, while the Nifty was at 16,201.35, up 1.12%.
The gains were broad-based, with all 30 Sensex components trading in the green. The top gainers were HDFC Bank (up 2.2%), TCS (up 2.1%), and Infosys (up 1.9%).
The market sentiment was positive on the back of strong global cues. US stocks closed higher on Tuesday, with the Dow Jones Industrial Average rising 0.8%, the S&P 500 gaining 0.9%, and the Nasdaq Composite Index rising 1.3%.
The gains in Indian equities were also supported by expectations of strong corporate earnings. A number of blue-chip companies are scheduled to announce their quarterly results in the coming weeks.
Outlook
The market is expected to remain positive in the near term, as investors continue to focus on strong global cues and corporate earnings. However, some volatility is likely in the run-up to the US Federal Reserve's policy meeting later this month.
Key Takeaways
- Indian equities opened on a positive note on International Yoga Day.
- The Sensex crossed the 54,000 mark for the first time.
- The gains were broad-based, with all 30 Sensex components trading in the green.
- The market sentiment was positive on the back of strong global cues and expectations of strong corporate earnings.
- The market is expected to remain positive in the near term, but some volatility is likely in the run-up to the US Federal Reserve's policy meeting later this month.