Sensex Jumps Over 500 Points, Nifty Rise Up To 0.6% In Early Trade

Indian benchmark indices traded in green on Wednesday.

Sensex opened 70 points higher at 73,988 points. The 30-share benchmark further surged to 74,458 points which is 0.7 percent higher than the previous closing level of 73,918 points.

Nifty also opened marginally higher at 23,233 points. Similar to Sensex, the 50-share benchmark further surged to 23,384 points, higher by 0.61 percent compared to the previous close of 23,242 points.

Out of the 3,060 stocks trading on the National Stock Exchange on Tuesday, 1,556 stocks advanced while 1,426 declined, showing the divide in the investor sentiment in the market.

Among the gainers of Nifty 50 lot, the stock of Nesle India remained at the top with a gain of almost 2.6 percent followed by Hindustan Unilever which increased by 2.56 percent.

The stock of Max Healthcare also traded over 2 percent to remain the third biggest gainer on Wednesday.

Banking stocks also dominated the gainers chart with ICICI Bank, Axis Bank, and Kotak Mahindra Bank and State Bank of India remaining in the pecking order.

Information technology stocks, which were among the losers on Tuesday, also traded with marginal gains.

Among the losers, metal stocks like Hindalco and Tata Steel remained among the top. While Hindalco lost over 3.5 percent to remain the biggest loser, Tata Steel declined 0.76 percent.

Auto stocks like Maruti Suzuki, Mahindra & Mahindra and Tata Motors Passenger Vehicles are traded in red.

Among the sectoral indices, Nifty FMCG remained the biggest gainer with a surge of 1.64 percent. It was followed by Nifty Chemicals which increased over 1 percent.

The latest rally in the market came in despite oil prices inching upwards after the United States attacked Iran in retaliation to the latter’s attack on Apache helicopter.  

However, it was not clear if Iran attacked the chopper intentionally or it was an inadvertent takedown.