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Indian equities ended higher for the second day in a row as benchmark indices saw buying interest in banking, auto and technology names.
The S&P BSE Sensex ended 0.9% higher at 49,661 while the NSE Nifty 50 also gained a similar quantum to end at 14,819.
All sectoral indices ended today's trading session with gains. The PSU Bank index was the top sectoral gainer, ending 2% higher while the Nifty Bank gained close to 500 points or 1.5% to end at 32,991.
The Nifty Auto index was the other major sectoral gainer, ending with gains of 1.6% while the Nifty I.T. index ended the day with gains of 1.1%.
The Nifty Metal index ended higher for the eighth straight day with gains of 0.9%. This is the longest winning streak for the index in the last eight months. It also ended at the highest level since April 2011.
Broader markets outperformed the benchmark indices in today's trading session. The Nifty Midcap index rose 1.3% while the Smallcap index ended with gains of 1.7% in today's session.
The India Volatility Index fell 2.8% to close at 20.25.
1,264 stocks on the NSE ended with gains while 621 stocks reported losses.
While sentiment was risk-on for the equity markets, the rupee had a day to forget. The currency fell 1.5% - its biggest single-day drop since August 2019 to end at 74.56, which is the lowest level in over four months.
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Indian equities opened little changed in mid-week trading after futures cooled off from their opening highs. Asian equities are trading positive while Wall Street ended lower overnight, albeit on tepid volumes.
The S&P BSE Sensex opened 0.15% higher at 49,277 while the NSE Nifty 50 index opened 0.2% higher at 14,716.
Most sectoral indices have opened flat this morning. The Nifty Metal index is up 0.5% while the Pharma index has opened with gains of 0.4%. Pharma and Metal stocks were also the outperformers in Tuesday's trading session. The Nifty Metal index has opened higher for the eighth straight day.
Broader markets too have opened largely in-line with the benchmark indices. The Nifty Midcap and Smallcap indices have both opened with gains of 0.3% each.
1,058 stocks on the NSE have opened with gains while 467 are trading lower.
Good Morning!
Indian equities managed to eke out modest gains on Tuesday in what turned out to be a volatile trading session. Gains were led by pharma, FMCG and metal stocks, along with Adani Ports which saw its biggest single-day gain since January 2009.
The focus on Wednesday will be on the rate decision of the Monetary Policy Committee, which will be announced at 10 a.m.
Futures have cooled off from the session's highs and are currently indicating a flat start to mid-week trading. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, were little changed at 14,752, as of 8:10 a.m.
Asian equities are trading near their all-time highs, even as peers on Wall Street saw declines overnight. Shares in Japan, Australia and South Korea rose along with the MSCI Asia Pacific index.
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