Share market update: Sensex advances 120 pts, Nifty above 10,600; Rupee gains 50 paise

BSE Sensex and NSE Nifty kicked off on a positive note on Wednesday morning on the back of strengthening of India rupee and falling crude oil prices.

Key sectors including banks, energy, metals and consumption are trading higher, while IT stocks are under pressure. (Image: PTI)

Share market update: Key domestic indices BSE Sensex and NSE Nifty kicked off on a positive note on Wednesday morning on the back of strengthening of India rupee, falling crude oil prices and strong buying sentiments in blue-chip stocks. The S&P BSE Sensex started at 35,330.14 against its last close of 35,144.49. Likewise, the Nifty50 index of the National Stock Exchange (NSE) opened at 10,634.90 as compared to Tuesday's close of 10,582.50. The 30-share Sensex was at 35,318.51, up 174.02 points or 0.50 per cent, in the first few minutes of trade on Wednesday. Even the 50-script Nifty was at 10,636.05, posing a gain of 53.55 points or 0.51 per cent. The domestic institutional investors bought net equities worth Rs. 335.78 crore on Tuesday, said the provisional data from NSE. According to reports and market trends, Nifty may also head towards the 10,900-mark. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback. As per new agency Reuters, global oil markets remained on a weak footing on Wednesday after a 7 per cent slump the previous session, with surging supply and expectations of faltering demand pressuring crude prices. Key sectors including banks, energy, metals and consumption are trading higher, while IT stocks are under pressure. The Nifty Midcap index is up over 0.60 per cent. It is also to be noted that the Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply. Share market on Tuesday: After opening on a negative mark, domestic benchmark indices Bombay Stock Exchange (BSE) Sensex and Nifty50 recovered the losses with Sensex moving 34,800 points and Nifty moving past the 10,500-mark. Both Sensex and Nifty opened negative on Tuesday morning following a large scale global sell-off roiled stock markets worldwide. As per market reports, sectors such as banks, energy, automobiles and IT were trading in red yesterday.