Benchmark stock market indices opened the trading session on a positive note amid a strong recovery on Wall Street.
The S&P BSE Sensex rose 814.01 points to 79,700.23 up at 9:20 am, while the NSE Nifty50 gained 249 points to trade at 24,366.
Most of the broader market indices recovered, tracking gains in the benchmark indices.
**Eicher Motors, ONGC, Tech Mahindra, HCLTech, and LTIM were the top five gainers. On the other hand, HDFC Life, Apollo Hospitals, Kotak Mahindra Bank, Cipla, and Sun Pharma were the biggest laggards.**
**Shares of RVNL dropped nearly 4% after the company reported a 35% decline in profit for Q1.**
**Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented, “The sharp rebound in US markets yesterday suggests that recession fears may have been overblown.”**
**He added, “The latest initial jobless claims were lower than expected, indicating that the labor market isn’t weakening as much as some had feared.”**
**However, Vijayakumar also pointed out that “the US economy is slowing down, and combined with the struggling Chinese economy, this could dampen global growth in the near term.”**
**He noted that “Indian valuations remain high, leaving little room for a sustained market rally. Tech stocks might see a recovery today, inspired by positive signals from the US.”**
