The Indian stock market opened on a positive note today, reversing its recent losing streak, driven by a rally in metal, banking, and auto sector stocks. This surge came after the news that inflation slightly eased in December, boosting investor sentiment.
As of 9:30 AM, the benchmark S&P BSE Sensex rose by 408.52 points, reaching 76,738.53, while the NSE Nifty50 gained 110.05 points, standing at 23,196.00.
According to market experts, the slight dip in retail inflation (CPI) for December has fueled optimism among investors, suggesting that the Reserve Bank of India may ease its monetary policy stance in the coming months. This development has had a positive impact on the stock market, particularly in sectors that have been under pressure recently.
Stocks in the metal and banking sectors witnessed significant movement, while the auto sector also saw a boost, with investors keeping a close watch on quarterly results and sales data.
Analysts believe that if inflation remains under control, the market could see further improvement in the coming days, as the economic outlook becomes more favorable for investors.
