Indian markets rise for 2nd straight day:Nifty reclaims 23,000 mark; IT stocks lead rally

Indian equity markets traded higher on October 30, building on the strong rally from the previous session. The BSE Sensex jumped 308 points to closed at 74,459, while the NSE Nifty gained 116 points to cross the key psychological level of 23,000. The positive domestic sentiment comes despite mixed trading across major Asian markets and overnight losses on Wall Street. Oil nears US-Iran war high: Price of contract of global benchmark of oil, Brent Crude, rose to $116 per barrel – near the US-Iran war high of $120 per barrel. Asian Markets Trade Mixed Major Asian indices showed divergent trends. While Hong Kong’s Hang Seng traded in the green, South Korean and Japanese markets witnessed sharp selling pressure. US Markets Closed Lower Overnight, US stock indices closed in the red as technology stocks led the decline, with the Nasdaq dropping over 1.3%. Previous Session Recap (October 29) On October 29, Indian benchmark indices recorded strong gains: BSE Sensex: Closed 905 points (1.24%) higher at 74,151. NSE Nifty: Gained 238 points to settle at 22,937. Top Sectors: Buying momentum was primarily driven by real estate, FMCG, and banking stocks.