Nifty is above 17,350 while the Sensex opens in the green at 59,240
After a strong start, the BSE Sensex increased 278.77 points to 59,240.89. At 17,387.35, the NSE Nifty increased by 83.4 points.
Early on Wednesday, stock markets rose as a result of rising Asian equities markets and purchasing in IT stocks.
After a strong start, the BSE Sensex increased 278.77 points to 59,240.89. At 17,387.35, the NSE Nifty increased by 83.4 points. Mahindra & Mahindra, Tata Steel, HCL Technologies, Axis Bank, Tata Consultancy Services, Maruti Suzuki, Larsen & Toubro, Bajaj Finserv, Tech Mahindra, State Bank of India, Tata Motors, and Bajaj Finance were among the top gainers from the Sensex pack.
The group's laggards were Power Grid, HDFC Bank, Nestle, and Hindustan Unilever.
Japan, China, and Hong Kong were all trading in the green on Asian markets.
On Tuesday, American markets had a lower closing price.According to exchange data, foreign portfolio investors (FPIs) sold shares worth 4,559.21 crore on Tuesday.
The BSE benchmark dropped 326.23 points, or 0.55 percent, to close at 58,962.12 on Tuesday, a four-month low. The Nifty fell 88.75 points, or 0.51 percent, to close at 17,303.95, a level not seen in more than four months.
Benchmark Brent crude for international oil prices increased 1.75 percent to USD 83.89 per barrel.
"Markets are likely to extend caution in early trade on Wednesday as the bearish overseas cues would keep local investors guarded and may prompt selling in case the sentiment worsens later in the day. Amid a volley of headwinds, markets are likely to stay volatile with a negative bias, although the market is in oversold territory after eight straight sessions of losses.To make matters worse, FIIs continued to exit Indian markets, as they sold local shares to the tune of ₹4,559 crore on Tuesday," Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd, said.
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