Indian equity markets opened the trade on a positive note on Wednesday (July 20) due to upbeat signals from global markets.
Strong U.S. corporate earnings and expectations of Russian gas supplies to Europe gave some respite to investors worried about rising U.S. inflation and interest rates.
Investors also feared that measures taken in the past to control inflation would push the economy into recession. In this situation, the Indian stock markets today in the opening session, the Sensex rose by 672 points (1.23 percent) to 55,439, while the Nifty rose by 166 points (1.01 percent) to 16,506.
Similarly, mid and small cap stocks traded on a strong note as Nifty Midcap 100 (0.59 per cent) and Small Cap rose 0.97 per cent.
Also, the sub-indices of the National Stock Exchange, Nifty IT, Nifty Metal and Nifty Oil and Gas rose by 1.10 per cent, 1.21 per cent and 1.94 per cent respectively.