Stock Markets Rally: Nifty Trades with Strong Gains

Domestic markets are trading with strong gains on Tuesday. Global crude oil prices have declined significantly after former U.S. President Donald Trump temporarily paused actions related to attacks on power facilities in Iran. Following this development, international markets responded positively, which also boosted domestic stock indices at the opening of trade.

Around 9:30 AM, the Sensex was trading with a gain of about 1,079 points at 73,775. The Nifty also rose by 337.4 points to trade at 22,848.80. However, the Indian rupee remained under pressure, weakening by another 18 paise to 93.71 against the dollar. In the Nifty index, shares of Asian Paints, Shriram Finance, Titan Company, InterGlobe Aviation and Grasim Industries were among the top gainers. Auto, banking, energy and pharmaceutical sector stocks also recorded gains of 1 to 2 percent.

Meanwhile, Asia-Pacific markets are also trading in positive territory. Japan’s Nikkei rose 1.1 percent, South Korea’s KOSPI surged 3 percent, Australia’s ASX gained 0.32 percent and Hong Kong’s Hang Seng index climbed 1.6 percent. On Monday, U.S. markets also closed in positive territory. In the previous trading session, Brent crude prices fell sharply by nearly 13 percent and settled around 99 dollars per barrel.