The Indian equity benchmarks opened on a positive note on Wednesday. At 9:18 am, the BSE Sensex was up 162 points or 0,29 per cent at 55,729, whereas the Nifty 50 index advanced 31 points or 0.19 per cent at 16,616.
The Nifty Midcap 50 index surged 0.55 per cent at 7,826, whereas the Nifty Midcap 100 index surged 0.60 per cent at 28,458. All the sectoral indices witnessed buying between 0.02 per cent to 1.53 per cent, with the stocks of FMCG and consumer durables leading the pack.
Meanwhile, the major indices in Asia were trading lower in early trade on Tuesday amidst weak global cues. The Hang Seng Index slipped 0.22 per cent at 21,373, whereas the Shanghai Composite and South Korea’s KOSPI indices were trading flat. While the Shenzhen component was down 0.35 per cent, Japan’s Nikkei 225 advanced 0.69 per cent.
The major indices in the US traded lower on Tuesday amidst worries of recession, inflation and rising interest rates. The S&P 500 slipped 26.90 points or 0.6 per cent to 4,132. The Dow Jones Industrial Average dipped 222.84 points or 0.7 per cent to 32,990. The Nasdaq Composite was down 49.74 points or 0.4 per cent to 12,081.
Back home, amongst the Nifty 50 companies, Titan, Hindustan Unilever Limited, Tata Consumer, NTPC, and Asian Paint were the top gainers, whereas Hindalco, ONGC, Dr Reddy, Wipro, and HDFC Bank were the top losers. Amongst the BSE listed companies, Asian Paint, Hindustan Unilever Limited, Titan, NTPCM ITC, Tata Steel, Mahindra and Mahindra, Tech Mahindra and Maruti were amongst the top gainers, whereas Dr. Reddy, Wipro, PowerGrid, Ultratech Cement, and Sun Pharma were the top losers.
The foreign institutional investors remained the net sellers worth Rs 1,003 crore, whereas the domestic institutional investors remained the net buyers worth Rs 1,845 crore on Tuesday, according to the data available on NSE.
The crude oil prices were trading higher on Wednesday, after the European Union agreed for a 90 per cent ban on Russian oil. The Brent crude oil benchmark for August delivery surged 78 cents to $116.38 per barrel, whereas the US West Texas Intermediate was up 63 cents to $115 per barrel at 0037GMT.
The Rupee declined by 17 paise to close at its all-time low of 77.71 against US Dollar on Tuesday. The stocks of Bharat Dynamics, Bata India, Rail Vikas Nigam, Quess Corp and HFCL will remain in focus on Wednesday.
