Stock Market: Sensex Gains 90 Points, Nifty Holds 18,400. PSU Bank Stocks Up 1 Per Cent

Stock update: On the 30-share Sensex platform, HCL Tech, TechM, Axis Bank, Wipro, Sun Pharma, M&M, UltraCemco, and others emerged winners

In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.5 per cent each.

Source : Getty

Sensex and Nifty, the two key equity markets on Wednesday, opened higher tracking mixed global cues.

At 9.45 am, the S&P BSE Sensex was up 89 points to 61,791, while the broader NSE Nifty was at 18,407, up 22 points.

On the 30-share Sensex platform, HCL Tech, TechM, Axis Bank, Wipro, Sun Pharma, M&M, UltraCemco, and others emerged winners. On the flip side, Airtel, HDFC, ITC, Reliance, L&T were the main losers.

In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.5 per cent each.

Volatility gauge, India VIX, meanwhile, slipped over 1 per cent.

All sectors started trade on a positive note. Nifty PSU Bank index gained the most, over 1 per cent.

Among specific stock, shares of Jubilant Foodworks gained over 1 per cent after the company’s flagship brand Domino's Pizza launched 20-minute deliveries across 20 zones in fourteen cities.

In the previous session on Tuesday, the S&P BSE Sensex losses 104 points (0.17 per cent) to end at 61,702. On the other hand, the broader NSE Nifty50 closed at 18,385, down 35 points (0.19 per cent).

Meanwhile, the rupee depreciated 5 paise to 82.75 against the US dollar in early trade on Wednesday as the strengthening of the American currency against key rivals overseas and firm crude prices in global markets weighed on the local unit.

However, a higher opening in domestic equities supported the local currency and capped the losses, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.76 against the dollar, then inched higher to 82.75, registering a decline of 5 paise over its last close.

In the previous session on Tuesday, the rupee settled 8 paise lower at 82.70 against the US dollar.

Brent crude futures, the global oil benchmark, advanced 0.39 per cent to $80.30 per barrel.

Foreign institutional investors (FIIs) turned net buyers in the capital markets on Tuesday as they purchased shares worth Rs 455.94 crore, according to exchange data.