Stock Market Today: Sensex rises over 100 points, Nifty below 25,720

Stock Market Today: Indian stock markets opened on a mixed note on Wednesday, February 18. The BSE Sensex rose over 100 points in early trade, while the NSE Nifty 50 slipped marginally.

At 9:15 AM, the BSE Sensex was trading at 83,553.59, higher by 102.63 points or 0.12 per cent. The index opened at 83,553.59, compared to its previous close of 83,450.96.

Meanwhile, the NSE Nifty 50 was trading at 25,718.25 at 9:15 AM, down 9.40 points or 0.04 per cent. The index opened slightly higher at 25,752.65 but slipped into negative territory soon after opening.

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Broader markets show mixed trend

The broader market indices on the NSE showed mixed performance in early trade. The Nifty 100 was marginally down by 0.02 per cent. The Nifty Midcap index remained almost flat. The Nifty Smallcap index recorded a marginal gain of 0.09 per cent.

This indicates selective buying in smaller stocks, even as benchmark indices remained largely flat.

IT stocks drag, metal and PSU banks gain

Sectoral indices showed mixed trends during early trade. The Nifty IT index declined sharply by 0.99 per cent, emerging as the top laggard. The Nifty Media index fell by 0.23 per cent, while the Nifty Auto index declined by 0.05 per cent.

On the positive side, the Nifty Metal index gained 0.37 per cent. The Nifty PSU Bank index also rose by 0.37 per cent, indicating buying interest in state-run lenders. The Nifty Realty index edged higher by 0.02 per cent.

Gold and silver rise sharply; crude oil edges higher

In the commodities market, crude oil prices were marginally higher. Brent crude rose 0.18 per cent to USD 62.44 per barrel.

Precious metals saw strong gains in early trade. Gold prices surged 1 per cent to Rs 152,937 per 10 grams for 24 karat gold. Silver prices also rose sharply by 2 per cent to Rs 233,000 per kg.

The rise in gold and silver prices reflects safe-haven demand amid global uncertainty.

Global cues remain supportive

On the geopolitical front, nuclear talks between the United States and Iran concluded a second round in Geneva on February 17. Both sides reported good progress despite regional tensions. Iran is expected to return with detailed proposals in the next two weeks, according to a US official.

Asian markets traded higher on Wednesday. Japan’s Nikkei 225 index surged 1.13 per cent to 57,205. Hong Kong’s Hang Seng index gained 0.52 per cent to 26,705. Markets in Singapore, Taiwan, and South Korea remained closed due to a holiday.