Stock Market Today: In Asian markets, Kospi, Shanghai Composite, Nikkei 225, and Hang Seng Index closed with gains, while European markets also remained in the positive zone.

Strength in the stock market

Stock Market News: The stock market got off to a strong start on Wednesday, led by strength in IT stocks, but profit-booking in heavily traded stocks limited gains as the day progressed. The 30-share BSE Sensex closed at 82,276.07, up 50.15 points, or 0.06 percent. During trading, it had jumped 731.99 points to reach 82,957.91.

Slight rise in the stock market

Meanwhile, the NSE Nifty 50 rose 57.85 points, or 0.23 percent, to close at 25,482.50. Among Sensex companies, HCL Technologies, Tata Steel, Tata Consultancy Services, InterGlobe Aviation, Sun Pharmaceutical, Mahindra & Mahindra, Maruti Suzuki, and Tech Mahindra were among the gainers. Reliance Industries, State Bank of India, Adani Ports, and Eternal declined.

Ponmudi R, CEO of online trading firm Enrich Money, said the market started strong on positive global cues and a rise in US tech stocks, but profit booking at higher levels and global trade concerns capped the gains. In Asian markets, Kospi, Shanghai Composite, Nikkei 225, and Hang Seng Index closed with gains, while European markets also remained in positive territory.

The US market also booms.

US markets closed higher on Tuesday. Foreign institutional investors (FIIs) sold shares worth ₹102.53 crore, while domestic institutional investors (DIIs) bought shares worth ₹3,161.22 crore. Global oil benchmark Brent crude fell 0.14 percent to $70.67 per barrel. It's worth noting that the Sensex fell 1,068.74 points to 82,225.92 on Tuesday, and the Nifty fell 288.35 points to 25,424.65.