Stock Markets Opening Bell - Sensex, Nifty open positively; Tata Steel, JSW Steel shares gains, Tech Mahindra, Grasim stocks fall

The Indian markets on Wednesday opened near record highs of Tuesday and were trading with a positive bias in the early morning trade. The BSE Sensex gained over 175 points or 0.32 per cent higher to 54,731 while Nifty grew by 47 points or 0.3 per cent to 16,327 levels at the market open today. 

In the broader markets category, the mid-cap index surged by around 35 points or 0.13 per cent to 27474 at open on Wednesday. Similarly, another important index, Nifty Bank jumped around 185 points or 0.5 per cent to 36218 levels, powering most to the Nifty Index today at the market open. 

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Of 50 scrips on Nifty50, 17 advanced, 29 declined and four remained unchanged at the market open today. Metal stocks propelling the gain in the market, Hindalco along with Tata Steel surged most at open by over 1.5 per cent, followed by JSW Steel up by over 1 per cent on Wednesday.

Other stocks such as Shree Cement, a biggest laggard yesterday at close, grew around 1 per cent at open today, along with HCL Tech gaining almost same.

On the contrary, Tech Mahindra, which was one of the gainers yesterday, declined most at open today by around 1 per cent, followed by Grasim down 0.5 per cent. While Infosys down 0.3 per cent, and Sun Pharma and Divis Lab declined by quarter per cent at the market open on Wednesday.

Minutes after the market open, almost all sectoral indices are in the green, except for Nifty Pharma down around 0.3 per cent, while Nifty Metal surged most by 1.5 per cent, followed by banking and financial stocks at the market open on Wednesday. 

On the global front, US markets on Tuesday close at a fresh new high as Democrats pass an infrastructure bill for almost $1 trillion which sees a cyclical rebound and take Dow Jones higher by over 160 points. 

While Asian markets opened in the green led by the Japanese 'Nikkei', which have been seeing consolidation after last month's correction phase.

Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) sold shares worth Rs 178.51 crore in cash, and bought Rs 689 crore in index futures.

The Nifty on Tuesday closed with gains for another day but saw huge intraday volatility as the index gyrated over 157 while the Bank Nifty saw intraday moves of over 425 points.