Indian shares rise as China's sovereign bond approval and declining crude oil prices boost markets, with the metal sector leading the charge. Expert insights and updates on the latest economic trends.


On Wednesday, Indian shares climbed, led by a surge in metals, as markets welcomed China's approval of a massive sovereign bond offering as a sign of stimulus, while a drop in US Treasury yields and crude oil prices aided the mood.

As of 10:06 a.m. IST, the NSE Nifty 50 index (.NSEI) was up 0.10% at 19,301.25, while the S&P BSE Sensex (.BSESN) was up 0.09% at 65,631.85.

Metals (.NIFTYMET) rose 1.5% after China approved a trillion-yuan sovereign bond offering to fund infrastructure improvements. The top Nifty 50 gainers were Hindalco Industries (HALC.NS), Tata Steel (TISC.NS), and JSW Steel (JSTL.NS), with gains ranging from 1.2% to 3.5%.

Since the start of the Israel-Hamas military confrontations on October 9, India's Nifty has lost approximately 2%."The Middle East is likely to be a temporary factor," said Sanjiv Bhasin, director at IIFL Securities, adding that increased domestic mutual fund inflows and festive demand might re-energize the market.

Asian markets are up 0.6% (.MIAPJ0000PUS). Stocks on Wall Street rose overnight, supported by good quarterly reports.Treasury rates in the United States fell from multi-year highs ahead of the release of US GDP data and a key inflation index.

Meanwhile, Brent crude futures fell for the third straight session, falling to $88 per barrel. A drop in oil prices benefits importers of the product, such as India.Sugar equities such as Balrampur Chini Mills, Shree Renuka Sugar, and Dhampur Sugar rose between 2% and 4%, supported by a 12-year high in global sugar prices due to low supply.

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