Indian equity indices opened Wednesday’s trading session on a lower note. The NSE Nifty 50 opened 36 points or 0.14% lower at 25,133. The BSE Sensex opened 146 points or 0.18% lower at 81,955.
The Bank Nifty opened 48 points or 0.09% lower at 55,462. However, the small and midcap stocks opened the day higher. The Nifty Midcap rose 38 points or 0.07% to open at 58,535.
“Now, a concern in the market globally is the high asset prices. Prices of assets, be it stocks, gold, silver, or bitcoins, are high. This concern was articulated by the Fed chief Jerome Powell yesterday in his speech in Rhode Island. Powell reiterated the risks to inflation and employment, too, signalling that the Fed policy, going forward, will be challenging. In India, even though the Nifty is around 4% down from the September 2024 peak, valuations continue to be higher than the long-term averages. But these valuations will become justifiable when the earnings growth picks up, hopefully in FY27,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
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 Trent, SBI, Adani Ports, IndusInd Bank, and Maruti Suzuki. On the flip side, the key laggards in the Nifty 50 pack included Hero MotoCorp, Bajaj Auto, Eicher Motors, Titan, and Tech Mahindra.
Major movers on Wednesday
The stocks that were the major movers in the opening trade included SBI, Axis Bank, Bajaj Finance, Adani Enterprises, and Maruti Suzuki, which were the major movers in the morning trade.