Stock Market Updates: Sensex Recovers Over 600 Points From Day’s Low, Trades In Green; Nifty Tops 24,300

Last Updated:October 29, 2024, 13:16 IST

Indian benchmark equity indices BSE Sensex and Nifty 50 were slightly lower at opening bell on Tuesday

Markets in India were likely to start on a positive note on Tuesday, tracking gains on Wall Street, amid strong Q2 results posted by a number of banks yesterday, coupled with receding tensions in West Asia.

Indian benchmark equity indices BSE Sensex and Nifty 50 were slightly lower at opening bell on Tuesday.

At open, the BSE Sensex was at 79,983.5, down 21.55 points, or 0.03 per cent, while the Nifty 50 was at 24,324, lower by 15 points, or 0.06 per cent.

Global Cues

Meanwhile, markets in the Asia-Pacific region were mixed despite overnight gains on Wall Street.

Japan’s Nikkei 225 was up 0.49 per cent, while the Kospi was down 0.54 per cent and the Kosdaq was 0.92 per cent lower. In contrast, Australia’s S&P/ASX 200 was 0.47 per cent higher.

In mainland China, the CSI300 was 0.27 per cent lower and the Shanghai Composite was down by 0.16 per cent, while Hong Kong’s Hang Seng index was up 0.49 per cent.

Global stock indices rose on Monday as investors awaited earnings reports this week from several of the biggest US tech-related companies, while oil prices dropped 6 per cent after Israel’s retaliatory strike against Iran at the weekend bypassed oil and nuclear facilities.

US earnings season is in full swing, with a long list of names due to report this week including five of the biggest US companies: Google parent Alphabet, Microsoft, Facebook owner Meta Platforms, Apple and Amazon.com.

The Dow Jones Industrial Average rose 273.17 points, or 0.65 per cent, to 42,387.57, the S&P 500 rose 15.40 points, or 0.27 per cent, to 5,823.52 and the Nasdaq Composite rose 48.58 points, or 0.26 per cent, to 18,567.19.

MSCI’s gauge of stocks across the globe rose 2.44 points, or 0.29 per cent, to 847.93. The STOXX 600 index rose 0.41 per cent.