Nifty 50, Sensex gain nearly 1% each after 3 days of losses: 5 reasons why Indian stock market is gaining today

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BSE also jumped about a per cent. Around 10:15 am, the Nifty 50 was 0.83 per cent up at 21,639.40 while the Sensex was also 0.84 per cent up at 71,785.22. Here are five key reasons that appear to have given a boost to the market: Positive global cues gave a boost to the domestic market sentiment.

Japan’s Nikkei 225 rallied 1.4 per cent and the Topix gained 0.98 per cent. South Korea’s Kospi jumped 1.14 per cent, while Kosdaq surged 1.37 per cent during the trade. Asian markets traded higher on Friday tracking an overnight rally on Wall Street fuelled by technology stocks.

Investors also assessed Japan’s December core inflation data which came in at its lowest level since June 2022 ahead of the Bank of Japan’s monetary policy meeting. Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, S&P near record, US jobless claims Over the past three consecutive sessions, both the Nifty 50 and the Sensex experienced a downturn of approximately 3 per cent each. In light of this market correction, investors are poised to capitalize on the opportunity by acquiring high-quality stocks.

The prevailing sentiment in the market remains optimistic, driven by the anticipated prospects of robust economic growth and potential rate cuts. Shares of banking and IT heavyweights, including HDFC Bank, ICICI Bank, TCS, Infosys and Axis Bank witnessed decent gains in the morning session. Healthy gains in the banking index after three days of losses gave a fillip to the benchmarks as banking stocks have significant weight in the benchmark indices.