Opening Bell: Nifty near 17,200, Sensex adds 300 points; auto, banking stocks shine

Snapping 5 days losing streak, the Indian markets started Wednesday on a high note as hinted by SGX Nifty. SFX Nifty hinted at a positive opening for the Indian markets as the futures index was trading higher by 86.50 points or 0.51% to 17,189.00 around 9 am on the Singaporean Exchange.  

Benchmark Nifty50 opened near 17,200 and barometer Sensex added 300 points to open above 57, 600 in the opening trade  amid uncertainty around Russia-Ukraine and fresh sanctions imposed by the western countries and Japan on the Russia.  

The two indices opened at 17,194.50 and 57,632.94 respectively.  

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Kotak Bank, Shree Cement, Tata Motors, BPCL, Heo MotoCorp, Mahindra & Mahindra, Tata Steel, Maruti, Bajaj Finance and State Bank were the top gainers on Wednesday 

ONGC, Hindustan Unilever, L&T were the only losers on the benchmarks in the morning trade.   

In the pre-open, the Sensex opened over 300 points higher to 57,632.94 as 2 shares advanced, 3 declined and one remained unchanged on the 30-share index. 

Meanwhile, Asian markets were seen trading in the green in early trade on Wednesday. Hang Seng Index at the Hong Kong Exchange was up 0.50%, Chinese Shanghai Composite was trading higher by 0.30%, while Japanese Nikkei 225 remained closed on Wednesday on account of National Holiday.  

The US market closed deep in the red on Tuesday. Dow Jones ended 1.42% lower, Nasdaq Composite closed lower by 1.23%, S&P500 declined 1.01% and Russell 2000 dropped 1.45% in Tuesday's closing.