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Opening bell: Sensex surges 1,000 points, Nifty above 24,300

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Opening bell: Sensex surges 1,000 points, Nifty above 24,300
Opening bell: Sensex surges 1,000 points, Nifty above 24,300

Aug 06, 2024 09:27 AM IST

All the 13 major sectors logged gains. The broader, more domestically focused small- and mid-caps rose about 2% each.

Indian indices opened higher following a rally in Asian markets as US central bank officials soothed investor nerves after a massive selloff in the previous session. The NSE Nifty 50 index rose 1.11% at 24,329.85 and BSE Sensex added 1.2% at 79,743.87. On August 5, Nifty 50 and Sensex logged their worst session in two months amid a global sell-off on fears of a likely US recession.

Stock market today: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)
Stock market today: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)

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All the 13 major sectors logged gains. The broader, more domestically focused small- and mid-caps rose about 2% each.

What about Asian and global markets?

Asian markets recovered from the drop with the MSCI Asia ex-Japan index rising 1.7%. However, Wall Street equities logged losses.

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What can you expect from the stock market today?

A Balasubramanian, managing director and chief executive at Aditya Birla Sun Life Asset Management Company, said, “Long-term investors should not be deterred by such global uncertainties. Market downturns should be viewed as an opportunity and capitalising on dips can be beneficial.”

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Which stocks rose most at opening today?

ONGC added 3.7% after it topped first quarter profit estimates on strong fuel demand. The stock was the top Nifty 50 gainer. Shares of Bharti Airtel rose 1.5% after the telecom services provider beat June quarter profit estimates.

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