Sensex jumps 690 pts intraday, Nifty tops 23,400: 4 factors behind mkt rise

The Indian stock market traded positively, with the Sensex rising over 0.6% and the Nifty recording 0.2% gains. According to Business Standard, analysts at SBI Securities attributed the market rise to the gradual decline in crude oil prices over the last four trading sessions, providing respite to Asian equities.

The Sensex gained 550 points to 74,850, and the Nifty gained 78 points to trade near 23,422. Top gainers on the Sensex included UltraTech Cement, Sun Pharma, HCL Tech, Asian Paints, and IndiGo, which rose 2-3%. On the other hand, shares of Power Grid, Bharti Airtel, and Infosys fell more than 1% each. The Nifty FMCG and Nifty Pharma sectors rose over 1% each, while the Nifty IT sector dropped 0.6%, as per The Economic Times.

Despite the positive market trend, experts have cautioned about potential risks. V K Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that global geopolitical risks are increasing due to conflicts in the Middle East and the Russia-Ukraine war. However, Brent crude has declined to below $102 per barrel. Ponmudi R, CEO of Enrich Money, also warned that geopolitical tensions and US tariff threats could trigger volatility across crude oil, currencies, and global equities.

Brief written by urgent.news from Business Standard IN, The Economic Times - Top News, Hindu BusinessLine — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.