The Indian stock market saw some relief today with both Sensex and Nifty50 opening in the green. As per the official websites, Sensex is up by 400 points, whereas Nifty rallied above 23,500.
At 9.15am, the benchmark Nifty 50 rose 0.45% to 23,503.65, while the BSE Sensex added 0.53% to 75,178.2.
Indian shares were expected to open higher on Tuesday after five consecutive weekly losses. However, higher oil prices and global bond yields ahead of this week's Federal Reserve meeting could keep any optimism in check.
Stock market today
According to reports, shares opened higher today, driven by information technology stocks and the heavyweight HDFC Bank.
As per Reuters, eight of the 16 major sectors rose, whereas the broader small-caps and mid-caps were little changed.
Following the calls for a slowdown in the development of artificial intelligence, IT stocks soared by 4.5 percent.
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These stocks have been major laggards in the market over the last year as new AI tools have threatened the business models of traditional software services companies.
{{/usCountry}}These stocks have been major laggards in the market over the last year as new AI tools have threatened the business models of traditional software services companies.
{{/usCountry}}Meanwhile, HDFC Bank, India's top private lender, rose three per cent after it submitted its nominations for the role of CEO to the Reserve Bank of India.