Indian equity benchmark indices, the Sensex and Nifty, opened almost flat on Wednesday amid weak global cues as renewed strength in crude oil prices and a sharp rise in global bond yields continue to weigh on investor sentiment. While the 30-share BSE Sensex jumped 558.77 points or 0.72 per cent to start the session at 77,468.45, the Nifty opened with a gain of 147.15 points at 24,225.45. In the last trading session, the Sensex closed at 76,909.68 and the Nifty 50 at 24,078.30. Similarly, the broader indices traded in the green in the early trading session. While the BSE Midcap Select Index was up by 129.54 points, the BSE Smallcap Select Index added 71.01 points or 0.78 per cent, to trade in the green at 9,148.12.
From the Sensex pack, Infosys, Bajaj Finance, HCL Tech, Tech Mahindra and TCS were the gainers, with Infosys leading the pack by gaining 1.87 per cent in the early trade.
In early trade, market breadth was positive, with 2,148 stocks advancing against 600 stocks declining on the NSE. 90 stocks remained unchanged.
"The near-term setup turns cautiously positive, with Gift Nifty indicating a strong opening and global equities gaining after U.S. Treasury measures helped ease bond-market stress. Softer global yields and improved risk appetite could support a recovery in Indian equities, although elevated crude prices and geopolitical risks remain watch points. Overall, the bias is range-bound to bullish, with buying interest likely to emerge on dips," said Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
