The Indian shares opened higher on Wednesday, November 11, after remaining closed on Tuesday in light of Diwali festivities. The BSE Sensex opened at 82,248.68 gaining 1142.03 points or 1.41%, while the Nifty 50 started the session at 25,337.80 gaining 293.15 points or 1.17%.
The market’s recent gains come after a sharp drop in crude oil prices and strong foreign fund inflows, according to news agency Reuters. These developments have supported investor sentiment, helping both benchmark indices record gains during this month.
Sensex ends previous session with a positive sign
The BSE Sensex had closed its previous trading session on Monday, November 9 at 81,106.65, gaining 107.25 points, or 0.13%.
During the session, the index opened at 81,327.29 and reached a high of 81,339.41. The index fell to a low of 80,519.31 before ending the day at 81,106.65.
The gain came as the market continued to respond to positive factors, including lower crude oil prices and strong foreign fund inflows. According to the news agency Reuters, the Sensex rose nearly 9% this month while second half is yet to begin.
The market remained closed on Tuesday, November 10, due to Diwali Balipratipada.
Also read: Anthropic eyes $1.4 trillion IPO valuation in major test of AI investor appetite
Nifty 50: Index closes previous session higher
The Nifty 50 also ended its previous trading session in gain. The index closed at 25,044.65, gaining 58.25 points, or 0.23%.
The index had opened at 25,076.40 during the previous session. Like the Sensex, the Nifty 50 has benefited from the recent improvement in market sentiment.
A sharp decline in crude oil prices and strong foreign fund inflows have been among the key factors supporting the market. Both benchmark indices have gained nearly 9% so far this month.
Also read: Nvidia plunges amid alleged Chinese spy row but tech shares rebound, oil prices slump
What is supporting the market?
The fall in crude oil prices and increased foreign fund inflows have provided support to the Indian stock market. These developments have helped improve market sentiment and contributed to the recent gains in benchmark indices.
The nearly 9% gains recorded by both indices so far this month mark a positive run for the Indian stock market.
(With input from Reuters)