Tue Nov 12 06:41:51 UTC 2024: ## Indian Markets Surge on Domestic Buying and US Rally
**Mumbai, November 12, 2024:** India’s key equity indices, Sensex and Nifty, opened higher on Tuesday, fueled by value buying at lower levels and sustained investment from domestic institutional investors. The rally was further supported by a positive performance in the US markets.
The BSE benchmark Sensex gained 324.83 points to 79,820.98 in early trade, while the NSE Nifty rose by 100.7 points to 24,242.
Among the top gainers in the Sensex pack were Bharti Airtel, ICICI Bank, Sun Pharma, Axis Bank, Tata Steel, Titan, Reliance Industries, and Power Grid. However, Maruti, HDFC Bank, Asian Paints, and IndusInd Bank lagged behind.
While foreign institutional investors (FIIs) sold equities worth ₹2,306.88 crore on Monday, domestic institutional investors (DIIs) continued to support the market by purchasing shares worth ₹2,026.63 crore.
Experts attribute the market’s consolidation to the contrasting forces of FII selling, which has been dragging the market down, and DII buying, which has been preventing a major crash. The market’s future trajectory will depend on the relative strength of these two factors, according to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Meanwhile, Asian markets were trading in the negative territory, while Wall Street closed higher on Monday. The US markets, buoyed by optimism surrounding Donald Trump’s election victory, the Fed’s rate cut, and strong consumer sentiment, witnessed the S&P 500 cross the 6,000 milestone and the Dow climb past 44,000.
The global oil benchmark Brent crude saw a slight decline of 0.15% to $71.72 a barrel.
First Piper 