Why market is rising today: Sensex zooms 600 pts, Nifty at 23,950 

Stock market today: Benchmark indices Sensex and Nifty opened higher on Friday amid positive global cues. Sensex gained 594 pts to 78,746 and Nifty rose 77 pts to 23,949. Market cap of BSE listed firms stood at Rs 488.61 lakh crore.

Stocks such as Bajaj Finserv, IndiGo, Trent, BEL, HDFC Bank and Reliance were the top Sensex gainers today, rising up to 1.84%.

Axis Bank and Eternal were the only Sensex losers, falling up to 0.21%.

IT stocks led the gains with the BSE IT index rising 283 pts to 29,719, lending strength to the benchmark indices.

Brent crude oil prices were trading at $96 per barrel mark amid the ongoing attacks between US and Iran. Iran claimed that it hit bases used by US forces in Kuwait and UAE. On Thursday, September 3, Tasnim News Agency, affiliated with the IRGC, reported the deaths of three Islamic Republic of Iran Army pilots in Tuesday evening’s US attacks on Iran. Six navy personnel were also killed during the attacks this week, it added.

Sachin Gupta, VP – Research, Technical Research, at Choice Broking said, "Overall, the bias remains cautiously positive, as Gift Nifty indicates a firm start and global equities are supportive. However, elevated crude prices and persistent US–Iran tensions could restrict sustained gains. Nifty may witness selective buying on dips, but volatility is likely to remain high, making the 24,000–24,050 zone crucial for further upside."

Global markets 

Indian markets were trading higher in line with the Asian markets. In Japan, Nikkei rose 697 pts to 64,912 and Hang Seng gained 524 pts to 25,738.  Taiwan Weighted index was up 311 pts to 46,169 .

Overnight, US market closed in the green. NASDAQ surged 366 pts to 26,584 and S&P 500 added 81 pts to 7747. Dow Jones index too surged 624 pts to 53,686.

Previous session 

Benchmark indices Sensex and Nifty closed lower on Thursday. Sensex fell 417 pts to 76,152. NSE Nifty 50 settled at 23,873.45, down 41 points or 0.17 per cent.