Stock Market Update: Sensex-Nifty saw a huge jump, Nifty crossed 24,500

Stock Market Update: Both the BSE Sensex and the Nifty 50 opened lower on Wednesday, continuing the negative trend of Indian benchmark stock markets.

The Nifty 50 was down 23.75 points, or 0.1%, at 24,448.35 at opening bell, while the BSE Sensex was down 309.75 points, or 0.39 percent, at 79,910.97.

Worldwide Cues

Asia-Pacific markets were split in the meanwhile, with the broad-based Topix rising by 0.19 percent and Japan’s Nikkei 225 trading 0.04 percent below the flatline.

The small-cap Kosdaq was down 0.72 percent, while South Korea’s Kospi was up 0.43 percent.

While mainland China’s Shanghai Composite was down 0.08 percent and the CSI300 was down 0.53%, Australia’s S&P/ASX 200 was up 0.14 percent.

The Hang Seng index, meanwhile, was 0.39 percent higher.

Aside from that, Tuesday’s market turbulence ahead of the US election and the prospect of interest rate reduction caused global equities to fall for the second consecutive session as US rates increased.

In the race to win swing states before November 5, Democratic Vice President Kamala Harris led Republican former President Donald Trump by a slim margin of 46% to 43%, according to a Reuters/Ipsos poll.

In erratic trading, the Dow and the benchmark S&P 500 ended down due to losses in utilities, commodities, and industrial sectors. As investors processed corporate data from businesses in several US economic sectors, the Nasdaq closed the day higher.