Stock market today: Indian stock markets opened higher on Tuesday, October 13, as investors looked for opportunities to buy after the recent selloff. The recovery came after the Sensex and Nifty 50 had declined 1.5% over the past week, with short covering helping lift the benchmarks in early trade.
The Sensex climbed 298 points, or 0.4%, to an intraday high of 72,222.95, while the Nifty 50 gained 95 points, or 0.4%, to 22,458.55.
However, global cues remained on the weaker side. The dollar index hovered around 102.5, its highest level since April 2025, supported by expectations of a hawkish US Federal Reserve and demand for safe-haven assets.
Bond yields also remained elevated, with the US 10-year Treasury yield around 5.3% and the 30-year yield touching 5.70%, its highest level since 2002. Higher yields can weigh on equities by making bonds more attractive to investors and increasing borrowing costs for companies.
Oil prices added to market uncertainty. Brent crude had surged to $107 a barrel following Houthi strikes on Riyadh's airport before easing to around $105.5. Crude benchmarks subsequently edged lower as traders assessed reports of a possible ceasefire covering energy infrastructure between Russia and Ukraine. However, uncertainty persisted after the White House said the reported truce, which focused heavily on refinery targets, had not been confirmed.