Sensex, Nifty open strongly on Wednesday; ICICI Bank, Maruti Suzuki among top gainers

Stock markets opened strongly on Wednesday after ending in red on Tuesday. Both the BSE Sensex and NSE Nifty today opened up by over 3.5 per cent from previous close. While the BSE Sensex opened up by over 1000 points at around 32,841.87 points the NSE Nifty in the opening trade was up by over 387 points at  9,584.20. Barring a few stocks in the 30-share BSE Sensex, all were trading in green when the markets opened.

ICICI Bank, Maruti Suzuki, Axis Bank, Mahindra & Mahindra and Indusind Bank were the top gainers in the opening trade while TCS and Nestle India were the top losers.  

Meanwhile, Vedanta Limited, ICICI Bank, Maruti Suzuki, Indusind Bank and Axis Bank were the top gainers on Nifty 50 in the opening Wednesday trade. Top loser on Nifty-50 was Nestle India at the time of opening of the market.

The rupee was trading at Rs 75.2450 at around 9:15 am when the markets reopened on Wednesday. On Tuesday the rupee ended at 75.3675.

On Tuesday, both the Sensex and Nifty ended the day in the red. The BSE Sensex was down by over 190 points, or 0.60 per cent, to close at 31,371.12 while the broader market Nifty-50 down fell by 42.65 points, or 0.46 per cent, to settle at 9,196.55.

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In the global markets, stocks and oil prices fell on Wednesday as fears about a second wave of coronavirus infections gripped financial markets. Investors, many facing steep losses due to the pandemic-driven shakeout in assets over the past few months, have also had to contend with renewed U.S.-China trade tensions. MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.4 per cent. Shares in China, where the coronavirus first emerged late last year, fell 0.5 per cent. The South Korean market was down for a third session.

Inputs from Reuters