Indian equity indices surged in Wednesday’s trading session after opening in the red. The NSE Nifty 50 was up 38 points or 0.14% higher at 26,213. The BSE Sensex was up 130 or 0.13% at 85,645.
The Bank Nifty opened 4 points or 0.01% lower at 59,296. Similarly, the small and mid-cap stocks opened in the red. The Nifty Midcap opened 43 points or 0.07% lower at 60,773.
“Technically, after a slow start, the market remained in a range between 26,120 and 26,230 throughout the day, indicating directionless intraday activity and uncertainty between bulls and bears. For day traders, currently, 26,100 and 26,050 would be the key support zones. As long as the market trades above these levels, bullish sentiment is likely to continue. On the upside, 26,250 would be the immediate breakout zone,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Coal India, Shriram Finance, Hindalco Industries, Adani Ports, and Jio Financial Services. On the flip side, the key laggards in the Nifty 50 pack included Infosys, Wipro, Eicher Motors, Nestle India, and Tech Mahindra.
Major movers on Wednesday
The stocks that were the major movers in the opening trade included Axis Bank, Coal India, Shriram Finance, Kotak Mahindra Bank, and ICICI Bank, which were the major movers in the morning trade.