Stock Market: Sensex Gains Marginally By 33 Points, Nifty Trades Above 18,200 Amid High Volatility

Stock update: Dr Reddy's was the top gainer, rising 1.53 per cent, followed by Nestle India, HCL Tech, Infosys, IndusInd Bank, L&T, and ITC on the Sensex platform

The two domestic equity benchmarks, Sensex and Nifty, turned volatile in early trade on Wednesday. The Sensex climbed over 170 points in the opening hours, tracking gains in index heavyweights Infosys, HCL Tech, and L&T amid a mixed trend in global markets. However, later both the indices erased gains and turned flat. Besides, a strong rupee against the US dollar and continued foreign capital inflows also supported the domestic markets, traders said.

At 10.30 am, the BSE Sensex was trading 61,218, up 33 points, while the broader NSE Nifty was trading at 18,220, up 18 points.

On the 30-share Sensex platform, Dr Reddy's was the top gainer, rising 1.53 per cent, followed by Nestle India, HCL Tech, Infosys, IndusInd Bank, L&T, and ITC. On the flip side, Tech Mahindra, HDFC twins, Bajaj Finance, HUL, and PowerGrid were the losers.

In the broader markets, Nifty SmallCap 100 and Nifty MidCap 100 indices slipped up to 1 per cent.

All sectors shifted between gains and losses, with Nifty PSU Bank and Nifty Realty indices gaining up to 1 per cent.

In the previous session on Monday, Sensex ended 235 points (0.39 per cent) higher at 61,185. The NSE Nifty rose by 86 points (0.47 per cent) to end at 18,203 points. Domestic equity markets were closed on Tuesday on account of Gurunanak Jayanti.

In Asian markets, bourses in Tokyo, Shanghai, and Hong Kong were in the red, while Seoul was trading with gains. Equities on Wall Street ended significantly higher in the previous session on Tuesday.

Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Monday, as they bought shares worth Rs 1,948.51 crore, as per exchange data.

International oil benchmark Brent crude was trading 0.14 per cent lower at $95.23 per barrel.

Meanwhile, the rupee appreciated 50 paise to 81.42 against the US dollar in early trade on Wednesday on broad dollar weakness and improving global risk sentiments.

At the interbank foreign exchange, the domestic unit opened at 81.43 against the dollar, then inched up to 81.42, registering a gain of 50 paise over its previous close. On Monday, the rupee had settled at 81.92 against the US dollar.