Sensex Climbs 375 Points, Nifty Over 18,150; Paytm Slides 2.29%

UltraTech Cement, RIL, IndusInd Bank, Bharti Airtel, Kotak Bank, and Tata Steel were among the major gainers

New Delhi: Key Indian equity benchmarks, Sensex and Nifty, started Wednesday session on a positive note led by gains across all sectors.

At 10 am, the 30-share BSE Sensex was up 375 points at 60,992 and the broader NSE Nifty moved 113 points higher to 18,169.

In the broader market, the BSE Midcap and Smallcap indices were also in the green zone and were up 0.4 and 0.6 per cent, respectively.

On the Sensex chart, UltraTech Cement, RIL, IndusInd Bank, Bharti Airtel, Kotak Bank, and Tata Steel were among the major gainers.

In contrast, TCS, Dr Reddy's, Titan, Maruti, and Wipro were among the major laggards.

In the previous session, the 30-share benchmark ended 221.26 points or 0.37 per cent higher at 60,616.89 and the NSE Nifty gained 52.45 points or 0.29 per cent to finish at 18,055.75.

At, 10.10 am on Wednesday, stock of Paytm parent One97 Communications was down 2.29 per cent at Rs 1,093 apiece on the BSE, having dropped to a record low of Rs 1,084.6 apiece earlier in the day. 

Meanwhile, IT majors TCS, Wipro and Infosys will announce their third-quarter (Q3) results later in the day.

“The short-term momentum reflects that the market is in complete control of the bulls. The expected good results from the three IT majors today are likely to impart resilience to the market,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

Results from the leading banks, starting Saturday, also will be good thanks to declining provisioning and rising net interest margins, he added.

Elsewhere in Asia, markets were trading in the green following higher closing at Wall Street.

Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought shares worth Rs 111.91 crore on Tuesday, according to stock exchange data.