Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 150.68 points to 78,167.87. Meanwhile, the Nifty was also up by 67.85 points to 23,736.50.
The Nifty index witnessed significant movements, with Mold-Tek surging 13.83%, Tokyo Plast rising 10.85%, TECIL Chemicals gaining 8.45%, and Key Finserv climbing 8.90%. On the other hand, the biggest losers included Kesoram Industries, which dropped 10.05%, Carraro India falling 7.32%, Salasar declining 5.34%, and Premier Limited also slipping 5.34%.
Realty stocks on the rise
Among sectoral indices, Nifty Realty led the gains in early trading, surging 1.06%. Other sectors that saw positive momentum included Nifty Auto (0.37%), Nifty FMCG (0.09%), Nifty IT (0.15%), Nifty Media (0.08%), Nifty Metal (0.46%), Nifty PSU Bank (0.16%), Nifty Oil & Gas (0.31%), and Nifty MidSmall IT & Telecom (0.41%).
However, some sectors saw declines, including Nifty MidSmall Healthcare (-0.46%), Nifty Consumer Durables (-0.10%), Nifty Healthcare Index (-0.28%), and Nifty Pharma (-0.25%). The market continues to show mixed trends as investors react to sector-specific developments.
Rupee against dollar
Meanwhile, the rupee weakened by 6 paise to 85.78 against the US dollar in early trade on Wednesday, weighed down by a negative trend in domestic equities and the recovery of the American currency in the overseas market. Forex dealers said the rupee faced renewed pressure on liquidity constraints, concerns over reciprocal tariff implementations and month-end demand for the US currency from importers.
However, foreign fund inflows supported the rupee at lower levels. At the interbank foreign exchange, the rupee opened at 85.71 against the greenback, then lost ground and touched 85.78, down 6 paise from its previous close. On Tuesday, the rupee snapped its seven-session rally and settled with a loss of 11 paise at 85.72 against the US dollar.
(With inputs from PTI)