Opening Bell: Sensex gains nearly 125 points, Nifty50 starts above 17,550 – Auto, FMCG, Pharma lead the surge

The Indian markets started Wednesday’s session on a positive note defying weak global markets, as Sensex jumped almost 125 points and Nifty50 opened 17550-mark, led by Auto, FMCG, and Pharma stocks.

At the market open, the BSE Sensex surged by 124.27 points or 0.21 per cent to 58977.3, and Nifty50 gained 41 points or 0.23 per cent to 17566.10. Following the benchmarks suite, the broader markets such as the Nifty midcap grew by over 0.3 per cent and the Nifty smallcap up 0.2 per cent at the open.

As many as 28 stocks advanced, 21 declined, and one remained unchanged in the early morning trade.

Hero Moto become the top Nifty gainer at the open, up nearly 2 per cent, followed by Bharti Airtel up over 1 per cent after Q1 earnings on Monday. While UPL, Titan, and UltraTech Cement are each up between 0.7-1 per cent at the market open on Wednesday.

On the contrary, Bajaj Finance slipped most to become a top Nifty loser, down over 1 per cent minutes after the market open, followed by HCL Tech also down by 1 per cent. While JSW Steel, Adani Ports, and Infosys are each down almost 1 per cent in the early morning trade today.

Sector-wise, Nifty FMCG and Pharma are aiding the market most, as they both are up almost 0.3 and 0.5 per cent respectively. Conversely, Nifty IT and Metal are trying to drag the market, as the former slipped by almost 1 per cent and the latter by 0.2 per cent in the early morning trade today.