Opening Bell: Sensex zooms past 61,000, Nifty near 18,200; metal stocks shine, IT shares decline
Tracking positive global cues and expectation of good earnings from frontline IT stocks, the Indian markets opened higher for the fourth session on Wednesday.
Tracking positive global cues and expectation of good earnings from frontline IT stocks, the Indian markets opened higher for the fourth session on Wednesday. IT majors TCS, Wipro and Infosys will present their Q3FY22 result on Wednesday.
The broader Nifty neared 18, 200, while the Sensex zoomed past 61,000-mark.
Domestic equity benchmarks Nifty50 and the S&P BSE Sensex opened at 18,170.40 and 61,014.37 respectively.
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Tata Steel, Bajaj Finance, NTPC, Asian Paints, Kotak Bank, Sun Pharma, Bharti Airtel, Hindalco, JSW Steel and Coal India were the top gainers on the two indices. Those that dragged the market the most in the opening on Wednesday were TCS, Tech Mahindra, Nestle India, Cipla, Tata Consumer and Shree Cement.
In the pre-open, the Sensex gained nearly 400 points to open above 61,000-mark on Wednesday as 29 shares advanced and 1 declined on the 30-share index.
Earlier, SGX Nifty at the Singaporean Exchange hinted at a positive opening for the Indian markets as the futures index was trading 130 points higher to 18,221 at 9 am on Wednesday.
On Wednesday morning, the Asian markets started off on a strong note as Nikkei 225 index surged 1.41 per cent, Hang Seng Index at the Hong Kong Exchange were trading higher by 1.71 per cent and Chinese Shanghai Composite traded 0.25% up around 7.40 am.
On Tuesday, all major Wall Street indices returned to winning streak. Dow Jones closed 0.51% higher, Nasdaq Composite gained 1.41%, S&P 500 ended with 0.92% gain and Russell 2000 closed 1.05% higher on Tuesday.
Meanwhile, After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest related to AGR dues into equity and that post-conversion, the government holding is expected to be about 9.5 per cent in the company.
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09:26 AM IST