BT Opening Bell | Sensex, Nifty open in green; M&M, Titan, Eternal, Infosys top gainers
BT Opening Bell | Sensex, Nifty open in green; M&M, Titan, Eternal, Infosys top gainers
Sensex rose 171 points to 76,645 and Nifty rose 50 pts to 23,914 in early deals today. Among Sensex constituents, M&M, Titan, Eternal, Sun Pharma, Infosys, Kotak Bank were the top gainers today, rising up to 2.27%.
Top Sensex losers were Bajaj Finserv, ICICI Bank, L&T, Trent and IndiGo shares falling up to 1.71%.
The Indian stock market opened marginally higher on Wednesday snapping a two-session losing streak, though caution may persist as a lack of progress in US-Iran peace negotiations keeps geopolitical risks elevated.
Brent crude futures still trade near $73 per barrel, while Asian markets were trading lower today. Lower oil prices are generally positive for inflation, corporate earnings and the country's fiscal outlook.
Sensex rose 171 points to 76,645 and Nifty rose 50 pts to 23,914 in early deals today. Among Sensex constituents, M&M, Titan, Eternal, Sun Pharma, Infosys, Kotak Bank were the top gainers today, rising up to 2.27%.
Top Sensex losers were Bajaj Finserv, ICICI Bank, L&T, Trent and IndiGo shares falling up to 1.71%.
Foreign investors sold shares worth Rs 2557 crore ($270.12 million) on Tuesday, as per provisional data. This was their second consecutive session of selling.
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Shrikant Chouhan, Head Equity Research, Kotak Securities said, "We believe the market's short-term texture remains non-directional, as traders await a decisive breakout on either side. On the upside, 24,000/77,000 will be the immediate resistance zone. A sustained move above this level could propel the market towards 24,150–24,200/77,500–77,700. On the downside, the immediate support zone is placed at 23,900–23,800, with the 50-day SMA positioned near 23,800/76,300. A decisive breach below this support could intensify selling pressure, dragging the market towards 23,700–23,600/75,800–75,500."
Previous session
Sensex fell 249.70 points or 0.33 per cent to settle at 76,478.67, while the NSE Nifty50 index declined 80.50 points or 0.34 per cent to close at 23,865.75.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
A journalist with over 12 years' experience, who tracks trends in the share market and writes stock market stories. An active follower of Sensex and Nifty, I capture stocks in news and analysis by share market experts and brokerages on their outlook and price targets. I cover company news/earnings leading to a rally or crash in particular stocks or stock market indices. Also track impact of global stock markets on their Indian peers. I have worked with Live Mint and NDTV Profit in previous stints. My hobbies are exploring new places, travelling, watching movies, spending time with friends and family, watching web series, playing cricket and football. I have completed graduation from Delhi University along with a PG Diploma in journalism from IIMC. I can be reached easily via social media platforms.