BT Opening Bell | Sensex rises 127 pts, Nifty above 23,950; NTPC, Eternal lead gainers

Domestic benchmark indices Sensex and Nifty opened higher on Wednesday, tracking upbeat cues from Asian markets, supported by gains in heavyweights such as NTPC, Eternal and Adani Ports amid uncertainty over the US-Iran conflict.

At 9:20 am, the BSE Sensex gained 74.65 points, or 0.10%, to 76,084.35, after rising as much as 127 points in early trade, while the NSE Nifty rose 16.40 points, or 0.07%, to 23,930.10, briefly touching a high of 23,950.15.

Among Sensex constituents, NTPC jumped 1.78% to Rs 396.40. Eternal climbed 1.36%, while Adani Ports, Asian Paints, and UltraTech Cement gained 0.98%, 0.87% and 0.81%, respectively.

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Broader Asian markets traded mostly higher today. Japan’s Nikkei 225 was trading 1.26% hgiher at 65,816.62, while South Korea’s Kospi surged 4.85% to 8,437.56. Hong Kong’s Hang Seng slipped 0.76% to 25,404.90. 

Wall Street ended mixed overnight, with two of the three major indices closing in the green. The S&P 500 gained 0.61% to settle at 7,519.12, while the Dow Jones Industrial Average slipped 0.23% to close at 50,461.68. The Nasdaq Composite jumped 1.19% to end at 26,656.18.

Previous session

In the previous session on Tuesday, the Sensex declined 479.26 points, or 0.63%, to settle at 76,009.70, while the Nifty surged 118 points, or 0.49%, to close at 23,913.70.

The near-term market tone remains cautious but stable, as recent profit booking at higher levels suggests some consolidation following the sharp recovery phase, said Hitesh Tailor, Research Analyst, Choice Equity Broking Private Ltd.

“Despite intermittent weakness, controlled volatility and balanced market breadth suggest that broader sentiment has not deteriorated significantly. Traders are likely to remain focused on key technical zones, while sustained holding above immediate support levels could help the market regain positive momentum,” Tailor added.