Stock Market: Sensex Rises 161 Points, Nifty Trades Above 17,000 Amid Mixed Global Cues

Stock update: HCL Technologies, Power Grid, NTPC, Mahindra & Mahindra, NTPC, Axis Bank, Wipro, Sun Pharma, TechM, TCS, Infosys, and Kotak Mahindra Bank were among the biggest gainers on Sensex

Broader markets, too, climbed in trade as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.4 per cent.

Source : Getty

Sensex and Nifty, the two equity benchmarks, opened higher in early trade on Wednesday, mainly because of intense buying in IT, metal, and energy stocks amid a mixed global cues and falling crude oil rates.

After declining in the previous three trading sessions, the BSE Sensex jumped 161 points to 57,308 after a positive start. On the other hand, the broader NSE Nifty gained 41 points to 17,024.

On the 30-share Sensex platform, HCL Technologies, Power Grid, NTPC, Mahindra & Mahindra, NTPC, Axis Bank, Wipro, Sun Pharma, Tech Mahindra, Tata Consultancy Services, Infosys, and Kotak Mahindra Bank were among the biggest gainers. On flip side, Asian Paints and Bharti Airtel were trading lower.

#StockMarket | Indian equity benchmarks opened in green on Wednesday.

At 10:20, #Sensex gained 161 points to 57,308 & #Nifty rose by 41 points to 17,024

Here's a look at the stocks in focus: pic.twitter.com/SwUoRKUQzX

— ABP LIVE (@abplive) October 12, 2022

Broader markets, too, climbed in trade as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.4 per cent.

Sectorwise, all of them opened on a volatile note. Nifty FMCG, Nifty IT, and Nifty Realty indices gained marginally in trade - up to 0.6 per cent.

Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong were trading with losses. The US markets ended on a mixed note on Tuesday.

In the previous session on Tuesday, the BSE Sensex had slumped 843 points (1.46 per cent) to settle at 57,147, while the NSE Nifty fell 257 points (1.49 per cent) to end at 16,983.

The international oil benchmark Brent crude futures declined 0.64 per cent to $93.70 per barrel.

Foreign institutional investors offloaded shares worth a net of Rs 4,612.67 crore on Tuesday, according to data available with the BSE.

Meanwhile, the rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows.

At the interbank foreign exchange, the domestic unit opened at 82.32 against the dollar, then lost further ground to 82.35, registering a loss of 14 paise over its previous close.