Indian equity markets opened higher on Wednesday, March 18, with benchmark indices posting gains in early trade amid positive global cues and buying interest in IT stocks.
At 9:17 AM, the Nifty 50 was trading at 23,714.05, up 0.54 percent or 129.85 points, while the BSE Sensex rose 0.61 percent or 463.82 points to 76,534.66. Buying activity was observed across several large-cap stocks during the opening session.
IT Stocks Support Market Gains
The IT sector led the market’s upward movement, with b buying interest in technology stocks contributing significantly to index gains. Investor participation in technology-driven companies increased during early trade.
Among Nifty 50 constituents, InterGlobe Aviation, Tata Consultancy Services, Wipro, and Shriram Finance recorded the highest gains, supporting the broader market sentiment.
Midcap and Smallcap Indices Advance
Broader markets also recorded gains, with the Nifty MidCap index rising approximately 0.97 percent and the Nifty SmallCap index advancing करीब 1 percent in early trade.
The movement indicates increased investor participation beyond large-cap stocks, with capital flows extending into mid-sized and smaller companies.
Sectoral Performance Led by IT and Auto
On the sectoral front, IT and auto indices outperformed other sectors. The Nifty IT and Nifty Auto indices recorded higher gains compared to peers.
In contrast, the metal sector declined, with the Nifty Metal index falling approximately 0.83 percent, making it the weakest sector during early trade.
Global Cues Influence Domestic Markets
Global cues contributed to the positive opening in domestic markets. Positive indications from GIFT Nifty supported early momentum. However, investors remained cautious amid ongoing global developments.
Market participants are focused on the upcoming meeting of the US Federal Reserve. Expectations indicate no major change in interest rates, while forward guidance on monetary policy is expected to influence market direction.
Asian Markets Trade Higher
Asian markets traded higher, with Japan’s Nikkei 225 rising more than 2 percent. Japan’s exports increased 4.2 percent year-on-year in February, supporting market sentiment.
South Korea’s Kospi advanced approximately 4 percent, leading regional gains. China’s CSI 300 and Hong Kong’s Hang Seng also traded with marginal gains.
US Markets Provide Support
US equity markets closed higher on Tuesday. The S&P 500 and Dow Jones Industrial Average ended with modest gains, while the Nasdaq Composite recorded a ber advance.
The positive trend in US markets contributed to gains in Asian and Indian equities.
Pressure in Commodity Markets
In commodities, crude oil prices declined, with Brent Crude falling करीब 1.5 percent to around $102.14 per barrel following an increase in US crude inventories.
Precious metals also weakened. Gold futures declined marginally, while silver futures fell more than 1 percent.
IPO Market Activity Continues
In the primary market, the Novus Loyalty IPO entered its second day of subscription. The issue was subscribed 0.83 times on the first day, with the company aiming to raise approximately Rs 60.15 crore.
The GSP Crop Science IPO opened for its final day of bidding. The issue was subscribed 0.98 times by the end of the second day. The book-built issue, valued at approximately Rs 400 crore, includes both a fresh issue and an offer for sale.
