Stock market today: BSE Sensex up 250 points near 73,900; Nifty50 above 22,400

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, on Tuesday opened in green following global cues. BSE Sensex surges 250 points and Nifty50 was above 22,400. At 9:31 AM, BSE Sensex was trading at 73,890.37, up 242 points or 0.33%. Nifty50 was at 22,404.85, up 68 points or 0.31%.
The Indian equity markets maintained their strength throughout Monday's trading session, closing at the day's high, with the broader market also rallying.Today, the markets will react to Reliance's results, which surpassed estimates.
"This week, the US will be releasing GDP and core PCE data which will provide direction to the market while stock specific actions will be seen as we progress into the earnings season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
According to an ET report, technical analysis indicates that the sentiment is expected to remain favorable for bulls as long as the index stays above 22,150, with potential upside targets of 22,600-22,700. However, a drop below 22,150 could lead to consolidation, says Rupak De of LKP Securities.
Wall Street stocks ended higher on Monday, following a market sell-off in previous sessions, as investors eyed a busy week for quarterly results from key companies that would provide insights into the U.S. economy's health. Asian stocks also rose, following the rebound in U.S. shares, with investors assessing the risk from geopolitical concerns in the Middle East.
Oil prices edged higher in early Asian trading on Tuesday, reversing losses from the previous session. The U.S. dollar remained firm, keeping the Japanese yen near a fresh 34-year low, as investors awaited key U.S. inflation reports and the Bank of Japan's rate decision this week.
Several stocks, including Biocon, Hindustan Copper, Vodafone Idea, SAIL, ZEE, and PEL, are in the ban period under the F&O segment due to crossing 95% of the market-wide position limit. Foreign portfolio investors turned net sellers at Rs 2,915 crore on Monday, while domestic institutional investors sold shares worth Rs 3,543 crore. The Indian rupee rose by 8 paise to close at 83.36 against the U.S. dollar on Monday, supported by positive domestic markets and a soft American currency.