Stock Market Today: Indian stock market benchmarks Sensex and Nifty 50 opened sharply higher on Wednesday, buoyed by hopes of a potential India-US trade agreement. However, rising crude oil prices and elevated US bond yields remained key concerns that could limit further gains.
The BSE Sensex surged 829 points, or 1.1%, to an intraday high of 74,682.19, while the Nifty 50 climbed 232 points, or 1%, to 23,120.90.
At the opening bell, the Sensex stood at 74,337.93, compared with its previous close of 73,852.90. The Nifty 50 began trading at 23,016, against its previous close of 22,888.95.
Investors were also tracking the much-anticipated Jio Platforms IPO, which opened for subscription on Wednesday, alongside developments in the ongoing second-quarter earnings season.
Sectoral performance was broadly positive, led by information technology stocks. The Nifty IT index advanced 2.03%, while the Nifty PSU Bank and Nifty Metal indices gained 0.74% and 0.70%, respectively. The Nifty Media index was the sole major sectoral laggard, declining 0.15%.