Share market Opening Bell! Nifty, Sensex continue to open at record high; Axis Bank gained most

The Indian markets on Wednesday opened at fresh record high levels, with Nifty above 17100 and Sensex near 58,000 levels. The BSE Sensex jumped over 238 points or 0.42 per cent to 57791.3 while Nifty50 grew over 200 points or 1.19 per cent to 17132.2 at the open on Wednesday.   

In the broader markets, the mid-cap index also soared by 171 points or 0.6 per cent to 28588.7 at open on Wednesday. While aiding the Nifty Index most, Nifty Bank opened over 75 points or 0.21 per cent higher to 36424.6 levels, led by Axis Bank.         

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Of 50 scrips on Nifty50, 27 advanced, 23 declined in the early morning trade today. Axis Bank surged most in the early morning trade by around 2.5 per cent, while Bajaj Auto, Asian Paint Nestle India and L&T each gained over 1 per cent at market open today. 

On the contrary, HDFC slumped most minutes after the market open on Wednesday by over 1 per cent, followed by Bharti Airtel, Kotak Mahindra Bank, Maruti Suzuki and Tata Steel fell marginally.

All sectoral indices opened in the green on Tuesday, with metal along with banking and financial services stock. Nifty Bank surged most out of all sectors by 0.46 per cent, followed by Nifty Metal. 

Globally, the US markets on Tuesday end flat as profit booking at new highs see consolidation. Asian markets on Wednesday opened mute after a superb last week as most indices hit 2-month highs.

Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) on Tuesday bought shares worth Rs 3881.16 crore cash and sold Rs 1872.4 crore in index futures.

The Nifty50 on Tuesday closed above 17,100 for the first time ever as the index hit double century gains for 2nd day running. FIIs are back with a bang as they bought aggressively in front-line stocks.