Indian stock markets opened on a positive note Wednesday, with gains amid ongoing US election vote counting. The Nifty 50 index rose 95 points (0.39%) to 24,308.75, while the BSE Sensex increased by 295 points (0.37%) to 79,771.82.
Market experts cautioned that the ongoing U.S. election could maintain high volatility levels globally. Ajay Bagga, a banking and markets expert, explained that as vote counting progresses, markets are reacting sharply to updates, adding that “elevated volatility” may persist if the election results are delayed. “Best to wait this out, at least for today,” he advised investors.
Most sectoral indices on the National Stock Exchange opened in the green, with Nifty IT leading gains at 0.86%, followed by Nifty Bank at 0.45%, and Nifty Auto at 0.51%. Among the Nifty 50, 38 stocks saw gains, led by Apollo Hospital and HCL Tech, while Titan and JSW Steel were among the top decliners.
The financial results of Power Grid Corp, Tata Steel, Jindal Steel & Power, Trident, Apollo Hospitals, and JK Laxmi Cement are expected to be announced later today, adding another focus point for market participants.
Elsewhere in Asia, Japan’s Nikkei 225 surged over 2%, while Taiwan’s Weighted index rose by 1.21%. However, Hong Kong’s Hang Seng index was down by more than 3%, and South Korea’s KOSPI index remained relatively flat.