The domestic benchmark indices recovered to trade higher in the early deals on Wednesday, as the <a href="https://www.mid-day.com/business/business-news/article/crude-oil-hits-4month-high-above-usd-108-amid-renewed-usiran-conflict-23649513" target="_blank" rel="none noopener">crude oil prices</a> eased below USD 99 per barrel.
<h2>Market movement</h2>
The 30-share BSE Sensex jumped 139.90 points or 0.19 per cent at 74,668.98 in the initial trade. The 50-share NSE Nifty was rose 39.30 points or 0.17 per cent at 23,368.30 in the early trade.
"Domestic liquidity is supporting the broader market. Market activity is now focused on the broader market. Good growth and better growth prospects are attracting investment into many mid-and small-caps. But valuations in these segments are getting stretched," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said .&nbsp;
Among the Sensex constituents, Bajaj Finance, Bajaj Finserv, Tata Steel, UltraTech Cement and Larsen &amp; Toubro were the major gainers, while Tata Consultancy Services (TCS), Infosys, Mahindra &amp; Mahindra, HDFC Bank, <a href="https://www.mid-day.com/business/business-news/article/icici-bank-acquires-2-per-cent-stake-from-jv-partner-in-icici-prudential-life-for-rs-1470-crore-23648106" target="_blank" rel="none noopener">ICICI Bank</a> were the laggards in the early deals.
On Tuesday, the Sensex shed 329.91 points, or 0.44 per cent, to settle at 74,529.08, while the Nifty snapped its four-day winning streak to drop 85.30 points, or 0.36 per cent, to end at 23,329.
<h2>Global cues for the market</h2>
"Brent has eased towards USD 98 a barrel over five sessions on hopes of US&ndash;Iran diplomacy, offering some relief to India's import bill, though prices remain elevated," Hemang Gor, Senior Research Analyst Technical and Derivatives Research, Axis Direct said.
According to news agency PTI, Brent crude, the global oil benchmark, was trading lower by 0.99 per cent at USD 98.27 per barrel.
"High crude prices and elevated bond yields will constrain a rally in the market," Vijayakumar said.
In Asian markets, <a href="https://www.mid-day.com/business/business-news/article/south-korea-korea-exchange-activates-circuit-breaker-as-benchmark-index-slumps-over-850-per-cent-23641980" target="_blank" rel="none noopener">South Korea's Kospi</a> was trading higher while, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were quoting lower. The stock market in Japan remains shut for the Autumnal Equinox holiday and reopens on Thursday.&nbsp;
"Foreign institutional investors (FIIs) continued their selling activity for the second consecutive session, offloading equities worth Rs 3,800 crore on Tuesday. Meanwhile, domestic institutional investors (DIIs) maintained their supportive stance, recording purchases of Rs 4,120 crore during the session," Hitesh Tailor, Technical Research Analyst at Choice Broking said.
(With inputs from PTI)

During the early deals, the Sensex gained 139.90 points or 0.19 per cent at 74,668.98, while the Nifty added 39.30 points or 0.17 per cent at 23,368.30

Sensex jumps 140 points, Nifty up nearly 40 points as crude oil prices ease

Sensex jumps nearly 300 points, Nifty soars over 117 points as crude oil prices ease

The 30-share BSE Sensex jumped 139.90 points or 0.19 per cent at 74,668.98 in the initial trade. The 50-share NSE Nifty was rose 39.30 points or 0.17 per cent at 23,368.30 in the early trade

Sensex rises 140 points, Nifty gains nearly 40 points in early deals as crude oil prices ease

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