Sensex and Nifty gain as crude oil prices ease
Nifty today
Indian stock market indices opened higher on Wednesday, September 23.
The Sensex and Nifty saw gains in the morning trading session.
The drop in the price of crude oil helped investor sentiments.
But, there was selling pressure by foreign investors on the market.
The Sensex of BSE climbed by 283.66 points in the morning session.
The index was quoted at 74,812.74 points in the trading session.
The Nifty index of the NSE added 85.55 points to trade at 23,414.55.
There was some buying interest seen in key stocks.
Interest was seen in stocks like Bajaj Finance and Bajaj Finserv.
Tata Steel and UltraTech Cement saw buying interest.
L&T and Asian Paints moved up in the morning trading session.
In contrast, stocks like TCS, Infosys and HDFC Bank were seen falling.
Similarly, the stock of Mahindra & Mahindra came under selling pressure.
The Brent crude price was down 0.97% at $98.29 per barrel.
The decline in crude prices could help Indian import costs.
This will help ease inflationary and external economic pressures.
Foreign Institutional Investors sold stocks worth ₹3,809.99 crore on Tuesday.
Tensions in the Middle East kept influencing investor sentiment worldwide.
Asian indices were also trading with varied performances on Wednesday.
The South Korean index was up during early sessions.
The Shanghai Composite and Hong Kong’s Hang Seng Index fell.
US indices had a mixed close on Tuesday.
The Nasdaq was supported by the tech companies’ stocks.
The Dow Jones closed lower in the session.
India’s stock markets closed lower on September 22.
Sensex was down 329.91 points to close at 74,529.08.
Nifty was down 85.30 points to end at 23,329.
Oil prices may be supportive to markets in the short-term.
Nevertheless, foreign selling pressure and geopolitical concerns prevail.
