Stock markets opened sharply higher on Wednesday after a day's break, with the Sensex and Nifty extending their recent rally to hit their highest levels in eight months. A sharp improvement in foreign investor flows, easing crude oil prices and optimism around corporate earnings lifted sentiment, while hopes of a possible de-escalation in the Iran conflict added to the positive mood.At around 9:48 am, the Sensex was trading at 82,467.26, up 1,360.61 points or 1.68%.

The index had opened at 82,248.68, compared with its previous close of 81,106.65. It touched an early high of 82,520.40 and a low of 81,969.91.The Nifty 50 was up 357.45 points, or 1.43%, at 25,402.10.

It opened at 25,337.80 and moved between an early high of 25,424.35 and a low of 25,263.80.The rally follows a strong run in the previous trading sessions, with foreign institutional investors returning as aggressive buyers of Indian equities. Markets were closed for a day before resuming trade on Wednesday.

INDIGO, M&M LEAD SENSEX GAINERSBuying was broad-based in early trade, with all 30 Sensex constituents trading in positive territory at the time of the snapshot.IndiGo was the top gainer, rising 4.95%. Mahindra & Mahindra advanced 3.70%, while State Bank of India gained 2.58%.

Axis Bank climbed 2.49% and HDFC Bank rose 2.32%. Eternal gained 2.25%, while Asian Paints and Bharti Airtel advanced 2.22% and 1.84%, respectively.

Power Grid Corporation was up 1.78%, ICICI Bank gained 1.67% and Larsen & Toubro rose 1.61%.Bajaj Finserv added 1.54%, ITC gained 1.53% and Trent advanced 1.48%. Bharat Electronics rose 1.45%, while Reliance Industries gained 1.38%.Bajaj Finance was up 1.30%, Hindustan Unilever gained 1.22% and HCL Technologies rose 1.20%.

Maruti Suzuki advanced 1.15%, Adani Ports gained 1.13% and Infosys rose 1.09%.Tata Steel, Kotak Mahindra Bank, TCS, NTPC, Tech Mahindra, Titan and Sun Pharma were also trading higher.The positive sentiment extended to broader market stocks. The Nifty 100 rose 1.26%, while the Nifty 200 and Nifty 500 gained 1.21% and 1.20%, respectively.The Nifty Midcap 50 advanced 0.89%, while the Nifty Midcap 100 rose 0.98%.

The Nifty Smallcap 100 was up 1.50%.India VIX, which measures expected market volatility, rose 1.10% to 17.61.MOST SECTORS TRADE HIGHERSectoral indices were largely in the green, with PSU banks, automobiles, financial services and consumer durables leading the gains.The Nifty PSU Bank index climbed 2.25%, while the Nifty Auto index advanced 1.60%. The Nifty Private Bank index rose 1.57% and the Nifty Financial Services 25/50 index gained 1.48%.The Nifty Consumer Durables index was up 1.63%, while the Nifty Media index advanced 1.19%.

FMCG stocks gained 1.07%, and the Nifty Chemicals index rose 1.04%.The Nifty Oil & Gas index added 0.93%, while the Nifty Metal index gained 0.65%. The Nifty Realty index rose 0.55%, and the Nifty IT index was up 0.36%.The Nifty Pharma and Nifty Healthcare indices were the exceptions, slipping 0.28% and 0.27%, respectively.Other indices also showed strength.

The Nifty MidSmall Financial Services index gained 1.50%, while the Nifty MidSmall Healthcare index rose 0.19%. The Nifty Financial Services ex-Bank index advanced 1.36%, and the Nifty MidSmall IT & Telecom index gained 0.49%.CRUDE OIL PRICES AND FII FLOWS IN FOCUSCrude oil prices were higher in early trade but remained well below their recent levels.

US West Texas Intermediate (WTI) crude futures were trading at $86.71 per barrel, up 0.78%, while Brent crude futures rose 1.14% to $92.53 per barrel.Foreign investor activity has also been a key support for the market. On Monday, November 9, foreign institutional investors were net buyers of equities worth Rs 7,212.22 crore in the cash market, while domestic institutional investors were net sellers worth Rs 7,172.53 crore.Investors will continue to track foreign fund flows, crude oil prices, global developments and corporate earnings for direction through the session.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group.

It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends