Indian Stock Markets Surge Amid Global Positivity, IT Stocks Lead Gains

On Tuesday, Indian stock markets experienced a robust start, buoyed by favorable global trends, with IT stocks spearheading the advances. The benchmark Sensex ascended by 342.39 points, reaching 81,129.69, a 0.42% increase, while the Nifty 50 climbed by 90.95 points to 24,864.10, marking a 0.37% rise in early trading.

Ajay Bagga, a Banking and Market Expert, informed ANI that the Indian markets observed leadership from metals and auto sectors despite the ongoing issues in the IT sector, primarily due to concerns about US companies' outsourcing contracts. He noted that current global political turmoil had caused minimal disruptions to market growth, an observation made amidst political upheavals in Japan, France, Indonesia, and the UK.

The broader market indices, including the Nifty Midcap 100 and Smallcap 100, indicated positive momentum. Particularly, the Nifty IT index surged over 1.8%, a development bolstered by Infosys's equity buyback announcement. Market analyst Shrikant Chouhan from Kotak Securities highlighted potential market volatility but suggested that crossing specific index levels could trigger a new upward rally. As Asian markets followed a similar upbeat trend, Singapore was a notable exception, contrasting the otherwise prevalent positive vibe.

(With inputs from agencies.)