Sensex gains 300 points, Nifty up 80 points on strong global cues

• Investors seem to be focused on corporate earnings as opposed to inflation and recession risk, at the moment.
• All three US indices -- Dow Jones, S&P 500 and NASDAQ Composite closed 1% higher on Tuesday.
• Goldman Sachs, Netflix and aerospace company Lockheed Martin posted better than expected earnings.
• In the Wednesday morning trade, Sensex gained 300 points at 59,255 while Nifty50 went up 80 points at 17,570.

Domestic markets rose higher in early trade, taking cues from the US market that witnessed sharp gains for the second straight session — on the back of strong corporate earnings. Investors seem to be focused on corporate earnings more than inflation and recession risk, at the moment.

Goldman Sachs, Netflix and aerospace company Lockheed Martin posted better than expected earnings. Three US indices -- Dow Jones, S&P 500 and NASDAQ Composite closed 1% higher on Tuesday.

Meanwhile, low crude oil prices also added to the momentum. Although crude oil prices rose today, it has been falling in the recent sessions and stood at a relatively low level of $90 per barrel.

On Wednesday, Sensex gained 300 points at 59,255 while Nifty50 went up 80 points at 17,570.

All sectoral indices except IT, metal and realty companies were trading higher on Wednesday. HDFC and HDFC Bank were among the top gainers on Nifty50.

Shares of Reliance Industries will be in focus today as Jio added the highest number of subscribers in August crossing BSNL for the first time. Shares of RIL were up 0.55% at ₹2,463 today.
Apart from this, Ultratech Cement, Nestle India, IndusInd Bank, Havells India, AU Small Finance Bank, HDFC AMC, Inox Leisure, Metro Brands, Shemaroo, Shoppers Stop will remain in focus as they are slated to report their quarterly earnings today.



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