The Sensex and Nifty benchmark indices started on Wednesday with mild gains as global cues remain tepid. At 09:16 IST, the Sensex was up 287.85 points or 0.53 per cent at 54340.46, and the Nifty was up 88.70 points or 0.55 per cent at 16213.90. In the overall market breadth, 1178 shares have advanced, 459 shares declined, and 81 shares are unchanged.
IndusInd Bank, HDFC, NTPC, ICICI Bank, Axis Bank, and Reliance were the top winners on the Sensex, while Asian Paints, TCS, Wipro, Infosys, and Tech M were the top losers.
The broader markets also opened in green. The BSE MidCap and SmallCap indices rose up to 0.4 per cent.
Sectorally, banking indices-Nifty bank, PSBs, financials and private banks rose 1 per cent each, leading the gains. While Nifty IT slipped 1.5 per cent tracking Nasdaq’s losses Tuesday.
Among stocks, Strides Pharma Science rose over a per cent depsite the company’s EBITDA falling 71.2 per cent to Rs 46.10 crore in Q4FY22 when compared with Rs 160.20 crore in Q4FY21.
Global Cues
Stocks on Wall Street gave up more ground Tuesday amid mounting worries that persistently high inflation will dim corporate profits. The S&P 500 fell 0.8 per cent, while the Nasdaq dropped 2.3 per cent. The Dow Jones Industrial Average eked out a 0.2 per cent gain, thank’s primarily to big gains for McDonald’s and UnitedHealth. Big technology and communications companies helped weigh down the broader market, though some of the selling eased by late afternoon.
Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector. The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade, while the broader Topix index was down 0.08 percent, or 1.56 points, at 1,876.70.
Hong Kong shares opened barely moved Wednesday morning following a tepid lead from Wall Street as traders fret over the impact of US interest rate tightening. The Hang Seng Index inched up 3.46 points to 20,115.56. The Shanghai Composite Index was barely moved, dipping 0.76 points to 3,070.17, while the Shenzhen Composite Index on China’s second exchange added 0.18, or 3.43 points, to 1,925.90.
Brent Crude and WTI added around a per cent each in morning deals, trading at $114.6 and $111 a barrel, respectively.
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