Opening Bell! Share market opens at new record high, Sensex breaches 56000, Nifty near 16700 - HDFC Bank gains most
The Indian markets start Wednesdays session with strong gains, as Sensex breach the 56000-mount while Nifty50 touches almost 16700-mark. The lead in the benchmarks is mostly followed by the strength in banking and financial stocks, amid the strong global cues.
The Indian markets start Wednesday’s session with strong gains, as Sensex breach the 56000-mount while Nifty50 touches almost 16700-mark. The lead in the benchmarks is mostly followed by the strength in banking and financial stocks, amid the strong global cues.
The BSE Sensex spurted over 280 points or 0.5 per cent to 56,073 while Nifty 50 jumped over 77 points or 0.47 per cent to 16,692 levels at the market open today.
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In the broader markets category, the mid-cap index too followed the benchmarks suite and surged by 114 points or 0.41 per cent to 27712 at open on Wednesday. Similarly, Nifty Bank leading the surge in Nifty50, soared over 355 points or 1 per cent to 36222.5 levels, led by HDFC Bank.
Of 50 scrips on Nifty50, 32 advanced, 18 declined and minutes after the market open today. Banking and financial stocks grew most at the open along with tech and paint. HDFC Bank surged near 3 per cent, followed by HCL Tech and Asian Paints each gaining over 1 per cent at the market open today.
While Axis Bank and Maruti Suzuki surged around 1 per cent at the market open on Wednesday.
In an otherwise strong market, Wipro declined most by 0.76 per cent, followed by IndusInd Bank, Tata Motors, Infosys each declining by around 0.5 per cent at the market open today.
All sectors opened in the green today, with Nifty Bank and the financial services sector gaining the most by almost 1 per cent, aiding the markets surge. While minutes after the market open, IT, metal, PSU bank and realty stocks declined to trade in the red on Wednesday.
Globally, the US markets on Tuesday ended in the red after seeing huge volatility as Dow Jones closed lower by 280 points after being down over 450 points. While Asian markets on Wednesday opened in the green led by the Japanese 'Nikkei' traded higher by over 100 points in early trade.
Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) on Tuesday sold shares worth Rs 343.73 crore in cash and bought Rs 266.43 crore in index futures.
The Nifty on Tuesday closed at fresh a new all-time high even as a breadth of the market left much to be desired. While Midcap stocks continue to feel the heat with selloff persisting another day.
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