Opening Bell: Nifty attempts 17,400, Sensex open 350 points higher; IT, media, metal gain

Domestic equity markets started Wednesday on a high note amid mixed global cues and positive Asian markets. The broader Nifty50 was seen attempting 17,400, while the S&P BSE Sensex surged 350 points in the opening ahead of the Reserve Bank of India (RBI) announcements on monetary policy on Thursday. Two indices Nifty and the Sensex opened at 17,370.10 and 58,163.01 on Tuesday.  

IOC, Tech Mahindra, Hindalco, ONGC, Bajaj Finserv, Infosys, Wipro, Tiatan and Maruti were the stocks that gained the most on Wednesday. NTPC, Bharti Airtel, Nestle India and Sun Pharma declined on the two indices.  

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In the pre-open, the Sensex opened higher by over 350 points to 58,163.01 as 26 shares davanced and 4 stocks declined on the 30-share Sensex.  

Meanwhile, SGX Nifty hinted at a positive opening for the domestic equity markets as the futures index at the Singaporean Exchanges traded higher by 70 points or 0.41% to 17,329.50 around 9.10 am on Wednesday.  

Earlier, Japanese Nikkei 225 gained 0.75%, Hang Seng Index at the Hong Kong Exchange surged 1.72% and Shanghai Composite traded flat with positive bias around 7.50 am on Wednesday morning.  

In the US market, the indices turned green in Tuesday's closing. Dow Jones gained 1.06%, Nasdaq Composite surged 1.28%, S&P500 appreciated 0.84% and Russell 2000 closed 1.63% higher on Tuesday.