The Indian stock market began with a surge for the third consecutive day. On Wednesday, the BSE Sensex opened at 81,504.36 and the NSE Nifty at 24,991.00. In early trading, the Sensex rose by 360 points and the Nifty by 99 points. All sector indices, except for Nifty Auto, were in the green.
Stock Market Today: On Wednesday, the third trading day of the week, the Indian stock market showed a b opening. The BSE Sensex opened at 81,504.36 and the NSE Nifty at 24,991.00. By 9:24 AM, the Sensex was trading 360 points higher at 81,420, and the Nifty was up by 99 points at 24,967. During this period, all indices, except for Nifty Auto, were in the green. The market had also closed with gains on Tuesday, when the Sensex strengthened by 314 points and the Nifty by 95 points.
Sensex and Nifty Movements
This morning, the BSE Sensex opened at 81,504.36 points. Meanwhile, the NSE's Nifty commenced trading at 24,991.00. In early trading, by 9:24 AM, the Sensex was trading 360.41 points, or 0.44 percent, higher at 81,420.81. The Nifty, on the other hand, was seen trading at 24,967.75, with a gain of 99.15 points, or 0.40 percent.
Performance of Sectoral Indices
In today's early trading, nearly all sectoral indices of Nifty 50, except for Nifty Auto, were trading in positive territory. IT, Pharma, Banking, and FMCG stocks witnessed a rally. Conversely, some major auto sector stocks were under pressure, causing Nifty Auto to slip into the red.
Performance on the Previous Trading Day
The market closed with gains on Tuesday. On that day, the Sensex closed at 81,101.32, up by 314.02 points, or 0.39 percent. The Nifty closed at 24,868.60, a gain of 95.45 points, or 0.39 percent. Following two consecutive days of gains, the b opening on Wednesday has boosted investor sentiment.
Activity in Large-Cap Stocks
In early trading today, prominent stocks such as Reliance Industries, Infosys, HDFC Bank, and Tata Consultancy Services saw gains. On the other hand, auto sector stocks like Mahindra & Mahindra and Maruti were under slight pressure. A buying trend was also observed in Metal and Realty stocks.
Impact of Global Markets
Positive signals from Asian markets also had an impact on the Indian stock market. Markets in Japan, Hong Kong, and South Korea recorded gains today. US markets had also shown a rally the previous day, further strengthening investor confidence.
Mid-Cap and Small-Cap Stocks
Not only the Sensex and Nifty, but mid-cap and small-cap stocks also witnessed robust buying. The Nifty Midcap 100 and Smallcap 100 indices were seen trading in the green. Investors showed interest in domestic company stocks.
Banking stocks provided the most support to the market in early trading today. Along with private banks, public sector banks also experienced a bullish sentiment. Stocks of HDFC Bank, ICICI Bank, and SBI saw significant buying activity.
