Both the Nifty and the Sensex began the trading day on a flat note. The Nifty opened at 25,213.50 and the Sensex opened at 81,762.27. Sectoral indices traded mixed in early trade. The Indian rupee opened at 93.73 to the dollar versus Wednesday’s close of 93.69 to the dollar. Crude oil prices fell over 1 percent, with Brent crude trading below 92 dollars per barrel (at the time of filing this copy) on hopes of progress in the US-Iran and Russia-Ukraine peace talks.
In the previous session, stock markets gained for the second straight day on Wednesday. The Sensex rallied 772 points to hit a near nine-month high and the Nifty closed above 25,250, aided by foreign fund inflows, better-than-expected Q2 results and a sustained moderation in crude oil prices. The 30-share BSE Sensex rallied 772.75 points, or 0.95 per cent, to settle at 81,879.40, a level not seen since February 26. During the day, it jumped 1,413.75 points, or 1.74 per cent, to 82,520.40. The 50-share NSE Nifty closed 210.40 points, or 0.84 per cent, higher at 25,255.05, the highest in nearly nine months. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,212.22 crore on Monday, according to exchange data.
“Indian benchmark indices closed higher, extending their winning streak to a ninth consecutive regular trading session, excluding the Muhurat trading session, which ended marginally lower. Despite surrendering a portion of their opening gap-up gains, the indices managed to sustain their positive momentum. WTI crude prices remained subdued in the USD 86-87 per barrel range, offering continued support to domestic market sentiment. The Indian rupee also held firm, drawing support from softer crude prices and improving external-sector conditions,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm told PTI. The broader market uptrend remains underpinned by a favourable mix of sustained FII inflows, lower crude oil prices, a resilient rupee and encouraging corporate earnings, he said.
“Among the key triggers, foreign portfolio investors continued their aggressive buying. Brent crude remained near USD 92–93 per barrel, well below its recent levels, easing concerns around imported inflation. Optimism around domestic demand and corporate earnings, along with moderating global enthusiasm for AI-linked investments, further enhanced the relative attractiveness of Indian equities,” Ajit Mishra, SVP-Research, Religare Broking told PTI.
Stock Market Today (November 12): Sensex, Nifty Open Flat; Oil Prices Fall Over 1% On US-Iran, Russia-Ukraine Peace Hopes
