Indian Markets Up as Middle East Tensions Ease and Global Optimism Grows
Indian stock indices began Wednesday strong, buoyed by reduced Middle Eastern tensions and global market positivity. Sensex rose by 328.73 points to 82,383.84 while Nifty increased by 91.50 points to 25,135.85. Investor focus shifts to global events, including US tariff decisions scheduled for July 9.
- Country:
- India
The Indian stock market witnessed a strong opening on Wednesday with major indices in the green. Sensex climbed 328.73 points to 82,383.84, while Nifty rose by 91.50 points reaching 25,135.85. This upswing was driven by relaxed tensions in the Middle East and favorable global market sentiments.
According to a market note from Sbi Securities, the bullish trend is expected to continue, with the S&P 500 nearing record highs. It pointed out that the zone between 24,930 and 24,900 will serve as immediate support for Nifty, with further support at 24,750 if required.
Market expert Ajay Bagga highlighted the positive effect of a tentative ceasefire in the Middle East, which has led to an uptick in stocks across Asia, Europe, and the US. Additionally, attention is now on the Trump Tax bill and global events like the US tariff deadline on July 9, which could impact market trends.
(With inputs from agencies.)
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