The benchmark indices opened in the red on May 31, Wednesday. At the time of writing this news, the S&P BSE Sensex traded at 62,788.48, down 181 points, or 0.29 per cent while the NSE's Nifty was trading at 18,555.55, down 78 points, or 0.42 per cent. 

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“Markets may see a cautious opening with a slightly negative bias in Wednesday trades amid weak global cues, with sentiments a bit dented on fears that a debt-ceiling deal could be derailed. A vote on the deal to raise the $31.4 trillion debt ceiling could be announced later today. However, the key positive takeaways are Nifty is trading at a 5-month high and, most importantly, the sequence of higher highs is intact, while Bank Nifty has scaled fresh all-time-highs, the RIL market cap has surged past Rs 17 lakh crore mark. Investors will also keep an eye on the Q4 GDP numbers to be announced later today, which will provide some sense on where the economy is headed in the near to medium term," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, had said in a pre-opening note.

In the broader market, the S&P BSE MidCap index traded 0.08 per cent lower at 26,932.24 while the S&P BSE SmallCap index was trading 0.09 per cent higher at 30,345.93 levels.

BUZZING STOCKS

On the Sensex pack, Sun Pharma (up over 1.50 per cent) was the top gainer on the index, followed by HCL Tech, and Tech Mahindra. On the flip side, SBI shares were the biggest laggards on the index - down over 2 per cent. The stock is trading ex-dividend today. Among other names, Torrent Pharma was trading over 5.50 per cent higher at Rs 1,809.70 apiece on the BSE after the company reported a good set of numbers for the March 2023 quarter.

Among sectoral indices, healthcare and technology stocks were trading with decent gains.