The Sensex and Nifty benchmark indices started off with slight gains on Wednesday as global signals remain lukewarm. At 09:16 IST, the Sensex rose 287.85 points or 0.53 percent to 54340.46, and the Nifty rose 88.70 points or 0.55 percent to 16213.90. In the total market size, 1178 shares have been claimed, 459 shares have fallen and 81 shares have remained unchanged.
IndusInd Bank, HDFC, NTPC, ICICI Bank, Axis Bank and Reliance were the top winners at the Sensex, while Asian Paints, TCS, Wipro, Infosys and Tech M were the biggest losers.
The broader markets also opened in the green. The BSE MidCap and SmallCap indices rose to 0.4 percent.
Industry-wise, banking indices – Nifty bank, PSBs, financial institutions and private banks – rose 1 percent each, leading the gains. While Nifty IT fell 1.5 percent, Nasdaq’s losses followed Tuesday.
Shares of Strides Pharma Science rose more than one percent, despite a 71.2 percent decline in the company’s EBITDA to Rs 46.10 crore in Q4FY22, compared to Rs 160.20 crore in Q4FY21.
Global clues
Shares on Wall Street lost ground on Tuesday amid mounting concerns that continued high inflation will dampen corporate earnings. The S&P 500 fell 0.8 percent, while the Nasdaq fell 2.3 percent. The Dow Jones Industrial Average posted a 0.2 percent gain, mainly due to large gains for McDonald’s and UnitedHealth. Major technology and communications companies helped put pressure on the broader market, although some sales eased towards the end of the afternoon.
Tokyo shares opened lower Wednesday after US stocks largely retreated amid growth concerns following a profit warning from Snapchat owner that shocked the tech sector. The benchmark Nikkei 225 index fell 0.13 percent or 36.02 points to 26,712.12 in early trading, while the broader Topix index fell 0.08 percent or 1.56 points to 1,876.70.
Hong Kong shares that opened barely moved after a lukewarm lead from Wall Street on Wednesday morning as traders worried about the impact of the US rate cut. The Hang Seng index rose 3.46 points to 20,115.56. The Shanghai Composite Index barely moved and fell 0.76 points to 3,070.17, while the Shenzhen Composite Index on China’s second exchange added 0.18 or 3.43 points to 1,925.90.
Brent Crude and WTI each added about one percent in morning deals, trading at $114.6 and $111 a barrel, respectively.
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