Opening Bell: Sensex, Nifty Volatile; HCL, Tech Mahindra Among Top Drags

Ultratech Cement, ICICI Bank, Axis Bank, HDFC Bank, Bajaj twins, Kotak Bank, Maruti, Nestle, and M&M were the top gainers during early trade

The BSE Midcap and Smallcap indices in the broader market were trading in green zone, up 0.3 and 0.2 per cent, respectively. Image: Getty

New Delhi: The key equity benchmark indices, Sensex and Nifty, started Wednesday’s trading session on a volatile note amid mixed global cues and increasing number of cases of the Omicron variant of Covid-19 in India.

As of 9.45 am, the 30-share BSE Sensex was down 26 points to 59,829, while the NSE Nifty moved up 13 points to 17,818.

The BSE Midcap and Smallcap indices in the broader market were trading in green zone, up 0.3 and 0.2 per cent, respectively.

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At 9.30 a.m., Sensex traded at 59,818 points, down 0.1 per cent from its previous close of 59,855 points. It opened at 59,921 points. Similarly, #Nifty traded at 17,781 points, down 0.1 per cent from the previous close of 17,805 points. It opened at 17,681 points.

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Bajaj twins, Ultratech Cement, ICICI Bank, Axis Bank, HDFC Bank, Kotak Bank, Maruti, Nestle, and M&M were the top gainers, up between 0.5-1.9 per cent among the Sensex-30 constituents. On the Nifty, IOC, and Bajaj Auto were the additional gainers.

Meanwhile, prominent losers on the Sensex pack were HCL Technology, TechMahindra, Infosys, IndusInd Bank, NTPC, RIL, TCS, Sun Pharma, and Airtel. The stocks were down between 0.7 per cent and 1.9 per cent.

The BSE Sensex jumped 673 points (1.14 per cent) to close at 59,856 on Tuesday, while the broader NSE Nifty settled 180 points (1.02 per cent) higher at 17,805.

According to Reuters, the US markets, on the other hand, ended on a mixed note amid selective profit-taking. The Dow Jones gained 0.6 per cent, while the S&P 500 and Nasdaq slipped 0.1 per cent and 1.3 per cent, respectively.

The major markets in Asia on Wednesday morning were mostly down. Kospi had dropped over a per cent. Hang Seng and Shanghai Composite had declined over 0.5 per cent each. Taiwan too was down 0.1 per cent. However, Straits Times advanced 0.4 per cent, and Nikkei was flat.

Meanwhile, oil prices jumped to the highest levels since November 2021 even as OPEC+ agreed to stick with its planned production increase in February, citing only a mild impact on demand owing to the Omicron variant. On Tuesday, Brent Crude rose 1.3 per cent to $80 a barrel, and WTI Crude added 1.2 per cent to $76.99 a barrel.