Indian equity benchmarks opened higher on Tuesday, March 10, supported by firm global cues and indications of easing tensions between the United States and Iran. Early trading reflected gains in both the Sensex and the Nifty, with buying interest visible in aviation and financial services stocks.
The BSE Sensex opened at 78,375 points, compared with Monday’s closing level of 77,566 points. Shortly after the market opened, at around 9:21 a.m., the Sensex was trading at approximately 77,978.05, up 411.89 points or about 0.53 percent.
Market movement in early trade was attributed to global signals and expectations of easing geopolitical tensions. Buying in aviation and financial services stocks also supported the market.
Nifty 50 Trades Above 24,200 in Early Session
The benchmark Nifty 50 index of the National Stock Exchange also opened higher on Tuesday. The index opened at 24,280 and moved above the 24,300 mark in early trading.
At around 9:24 a.m., the Nifty was trading near 24,200, up about 125 points or approximately 0.52 percent. According to market experts, global cues and domestic investor buying supported the benchmark indices during early trade.
Aviation and Financial Services Stocks See Buying Interest
Select sectoral stocks recorded gains after the market opened on Tuesday. Aviation and financial services stocks saw increased investor participation.
A decline in crude oil prices was cited as one factor supporting aviation stocks. Lower crude oil prices can reduce operating costs for airline companies.
Buying in financial sector stocks also supported the market. Banking and financial companies frequently influence the broader direction of equity markets.
Asian Markets Register Gains
Asian equity markets also recorded gains on Tuesday. Several major regional indices advanced.
South Korea’s Kospi index rose by more than 6 percent, making it one of the best-performing markets in the region. Japan’s Nikkei 225 index also gained more than 5 percent.
The rally across Asian markets contributed to positive sentiment in Indian equities.
Signals on US–Iran Tensions
Global market sentiment was also influenced by developments related to tensions between the United States and Iran. US President Donald Trump indicated that the conflict between the two countries could end soon.
He also warned that Iran could face significant losses if it attempts to block oil supply through the Strait of Hormuz. Following these statements, global markets saw some relief.
Expectations of easing geopolitical tensions contributed to improved investor sentiment and buying activity.
US Market Close and Futures Movement
US equity futures showed mild weakness. Dow Jones Industrial Average futures were trading about 0.22 percent lower, while S&P 500 futures were down around 0.25 percent.
In contrast, US markets had closed higher on Monday. The Dow Jones Industrial Average ended the session up about 0.5 percent, while the S&P 500 index rose approximately 0.83 percent.
The strength in US markets also supported broader global investor sentiment.
Sharp Decline in Crude Oil Prices
International crude oil prices declined sharply on Tuesday. Brent crude fell by about 11 percent to around $88.05 per barrel.
According to Bloomberg data, at around 7:20 a.m. Brent crude was trading near $88.70 per barrel, indicating a decline of approximately 10.37 percent.
Lower crude oil prices can influence several sectors. Aviation, transportation, and certain manufacturing companies may see cost reductions when crude prices fall.
Gold and Silver Futures Rise
In the commodities market, gold and silver futures recorded gains. Investors increased allocations to precious metals amid a weaker dollar index and expectations of easing geopolitical tensions.
Gold futures were trading higher by about 1.55 percent. Silver futures recorded a sharper increase of approximately 6.06 percent.
IPO Market Activity
Activity was also visible in the primary market. The Innovision IPO opened for subscription on Tuesday. The book-built issue is worth about ₹322.84 crore and includes both a fresh issue and an offer for sale.
The Rajputana Stainless IPO remained open for subscription on its second day. On the first day, the issue received subscription of 0.30 times.
Meanwhile, Tuesday is the final day to apply for the Srinivas Pradhan Construction IPO. By the second day, the issue had been subscribed approximately 1.01 times.
