Sensex gains 324 points, Nifty crosses 23,400 mark
The Indian stock market kicked off Tuesday with a burst of energy: Sensex jumped 324 points to 75,827 and Nifty crossed the 23,400 mark.
Early optimism was fueled by hopes that key shipping routes might reopen soon. But the mood shifted quickly, and those gains faded by mid-morning as uncertainty crept back in.
IT stocks faced the heat
Pharma and auto stocks managed small gains (about 0.4%), while big IT names like Infosys and TCS dropped up to 2% amid ongoing volatility.
Geopolitical tensions from the Iran-U.S.-Israel conflict are making investors cautious, and foreign investors have been pulling money out of Indian markets lately, adding to the uneasy vibe for traders this week.
Rupee opens slightly firmer against US dollar
The rupee opened at 92.39 against the US dollar, slightly firmer than the previous close of 92.42.
Meanwhile, Asian markets were a mixed bag: Japan's Nikkei was up slightly, but Hong Kong's Hang Seng gained around 0.9%.