Mumbai. The domestic stock market opened with gains on Tuesday. Market sentiment remained strong due to reduction in geopolitical tensions in West Asia, fall in crude oil prices and buying in shares of IT companies. In early trade, BSE Sensex rose by 152.70 points to reach 76,988.48 points, while NSE Nifty rose by 44.95 points to trade at 24,040.90 points.
There was a rise in IT shares
Among the major companies included in the Sensex, shares of Tech Mahindra, Tata Consultancy Services (TCS), Infosys, HCL Tech, Hindustan Unilever and Eternal saw a rise. At the same time, shares of Bharat Electronics, NTPC, Power Grid and State Bank of India (SBI) remained under pressure.
Relief to the market due to fall in crude oil prices
The fall in international crude oil prices had a positive impact on the market. The price of Brent crude fell 1.44 percent to $ 87.09 per barrel. Investors hope that softening oil prices may help control inflation.
Selling by foreign investors continues
According to stock market data, foreign institutional investors (FIIs) were net sellers on Monday and sold shares worth Rs 1,688.23 crore. Earlier on Monday, Sensex had closed with a gain of 1.02 percent and Nifty with a gain of 0.96 percent. At the same time, a mixed trend was seen in Asian markets.
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