Sensex up 200 pts, Nifty above 23,350: Positive global cues among key factors behind market rise

Reports coming in for today mention that The bechmark indices The two key benchmark indices traded elevated on Wednesday ​amid ‌positive cues from global markets.

At around 10 a.m., the Sensex was up 169.57 points or 0.23 percent at 74,698.65, while the broader Nifty advanced to 23,378.80, up 49.80 points or 0.21 percent.

Key factors behind market climb

1) Positive global cues: Global cues remained positive, with technology stocks driving a sixth straight day of upside in Asian equities, the Nasdaq closing at another record high and oil price marks extending their slide amid signs of improving Middle East supply.

2) Oil price marks slide: Crude edged softer, with Brent falling below $100 a barrel as Saudi Arabia began restoring supplies through a key pipeline and market participants watched for progress towards a diplomatic resolution of the US-Iran conflict. Brent crude futures declined 0.07 percent to $99.18 a barrel, while West Texas Intermediate declined 0.39 percent to $90.17.

3) Nasdaq hits second straight record high: US equities ended mixed on Tuesday, but technology stocks continued to outperform as enthusiasm around artificial intelligence supported Micron Technology and other AI-related names. Continued resilience in US technology shares has spilled over into Asian markets, helping offset some of the concerns surrounding global interest rates and geopolitical risks.