Lagatar24 Desk
Mumbai, Mar 30: The Indian equity indexes opened higher on Wednesday, following the lead of global markets.
As expectations for a diplomatic resolution to the Russia-Ukraine crisis grew, Asian stocks joined a global gain overnight. More than a month after the greatest attack on a European nation since World War II, the newest round of peace talks took place in Istanbul.
Trends on the Singapore Exchange’s Nifty Futures (SGX Nifty) likewise pointed to a gap up start for the domestic indices.
The 30-share BSE Sensex rose 516 points, or 0.89 percent, to 58,460 while the wider NSE Nifty rose 139 points, or 0.80 percent, to 17,464.
Mid- and small-cap stocks were trading higher, with the Nifty Midcap 100 up 0.50 percent and small-cap stocks up 0.92 percent.
The National Stock Exchange’s 15 sector indicators were trading in the green, with 13 of them. Nifty Bank and Nifty FMCG both outperformed the index, climbing 0.76 percent and 0.72 percent, respectively, to exceed the benchmark. Nifty Metal, on the other hand, fell 1.66 percent.
On a stock-by-stock basis, Tata Consumer Products was the highest Nifty gainer, rising 4.17 percent to Rs. 774.20. Among the gainers were Tata Motors, Hero MotoCorp, Cipla, and Maruti Suzuki.
On the BSE, the overall market breadth was positive, with 1,932 shares advancing and 543 decreasing.
Bharti Airtel, Maruti, Bajaj Finance, M&M, UltraTech Cement, Nestle India, L&T, Asian Paints, and IndusInd Bank were among the top gainers on the 30-share BSE index.
Tata Steel, Tech Mahindra, NTPC, Sun Pharma, NTPC, and Reliance Industries, on the other hand, were all in the red.
On Tuesday, the Sensex rose 350 points, or 0.61 percent, to close at 57,944, while the Nifty rose 103 points, or 0.60 percent, to 17,325.
