The Indian stock market witnessed strong buying in morning trade on Thursday, 15 October, with the benchmarks, the Sensex and the Nifty 50, jumping more than 1% each even as the mid- and small-cap segments remained lacklustre.
The 30-share pack jumped over 1,100 points, or 1.5%, to its intraday high of 73,907, while the Nifty 50 climbed over 300 points, or 1.4%, to its day's high of 22,950. On the other hand, the BSE 150 Midcap index and the BSE 250 Smallcap index dropped by 0.50% during the morning session.
Let's take a look at three key factors behind the rise in the Indian stock market:
Investors are turning to blue-chip stocks as valuations become more comfortable. The shift towards large-caps also reflects their relative safety compared with mid- and small-caps, amid persistent geopolitical uncertainties that continue to cloud the market outlook.
Around 10:15 AM, Bharti Airtel, ICICI Bank, HDFC Bank, Reliance, Infosys, and TCS were the top contributors to the gains in the Sensex.