The National Stock Exchange’s Nifty Index also showed an uptrend in early trading on Wednesday. The Nifty opened at 14,710.50 on Wednesday. In the first few trades it was trading at 14749.50, up 0.66 percent or 96.45 points.
New Delhi, Business Desk
The Indian stock markets opened for the third trading day in a row with gains. Bombay Sensex’s stock-sensitive index rose 122 points to 49,066.64 on Wednesday. In early trading it appeared to be trading at 49,226.32 for a profit of 0.58. Percent or 282.18 points at 9.22 minutes. In early trading, 29 out of 30 Sensex stocks appeared to be trading on the green and one stock on the red.The maximum profit was 3.15 percent at Bajaj Finance, 2.19 percent at Bajaj Auto and 2.12 percent at Bajaj Finserv.
The National Stock Exchange’s Nifty Index also showed an uptrend in early trading on Wednesday. It was believed to be trading at 14,749.50 with a gain of 0.66 percent, or 96.45 points At this point, 44 of 50 Nifty shares were trading on the green and 6 shares were trading on the red.
The Market was Closed with an Increase on Tuesday
Domestic equity markets recorded for the secondconsecutive trading day on Tuesday on good buying from banking and finance companies, including select heavyweight stocks. The nifty of 50 stocks on the National Stock Exchange (NSE) also stabilized at 14,653.05, improving 168.05 points, or 1.16 percent, while the Sensex package saw a maximum gain of 3.33% in L&T shares. Investors also bought well at Bajaj Finance, Reliance Industries, IndusInd Bank, SBI, HDFC Bank and Bharti Airtel. All EEB sector indices closed at the green mark. On Tuesday, the BSE midcap and smallcap indices also gained one and a half percent.
Anand James, chief marketing strategist at Geojit Financial Services, said the booming US market had an impact on the domestic market. Investor interest in bank stocks in the Indian market remains high and has risen by more than one percent in the afternoon. The shares of metal companies also shone and recorded a plus of more than two and a half percent. He also said investors have had to be a little cautious since the futures and options expiration on Thursday in April.
Binod Modi, chief strategic officer at Reliance Securities, said the market is gaining momentum this week to hedge short positions before futures and options expire as financial results from Maruti Suzuki and HDFC Life kept investors away from them. The main markets in Asia fell in Hong Kong, Tokyo and Seoul. The Shanghai Composite was booming. Europe’s main markets were in decline until noon. The Nasdaq and S&P 500 hit all-time highs in the US market. On the stock exchange, foreign institutional investors (FII) were net sellers on Monday, selling shares valued at 1,111.89 rupees.