The Indian stock markets on Wednesday opened higher with the Sensex gaining nearly 50 points op opening to move to 34,443 points and soon surging beyond 34,500, even as the broader Nifty 50 moved to 10,578 points in the opening trade. Notably, shares of Wipro, Adani Ports, Yes Bank gained nearly 1% each in the morning trade. Shares of M&M, Kotak Mahindra, ICICI Bank and L&T were trading in the red, with M&M shares tanking nearly 0.8%. In the Nifty, Indiabulls Housing Finance and Hindustan Unilever gained as much as 0.4% each, while shares of Coal India, Tech Mahindra and Hindalco lost up to 0.5%. In the Nifty, 30 shares advanced while the remaining shares registered declines.
Earlier, the Nifty futures on the Singapore Stock Exchange were trading 44.50 points, or 042 per cent, higher at 10,599, indicating a positive open for the domestic markets back home. Asian shares moved ahead a bit on Wednesday after Wall Street traded positively on upbeat corporate earnings, even as concerns about trade barriers and the global growth outlook kept currencies and bonds subdued, according to a Reuters report. Dealers were anxious to see if a surprise policy move by the China’s central bank late on Tuesday might help soothe Shanghai markets after a couple of days of sharp losses, said the report.
MSCI’s broadest index of Asia-Pacific shares outside Japan were up 0.2 percent in early trade, though that follows four straight sessions of losses. Meanwhile, Japan’s Nikkei added 0.6 percent, with investors keenly observing any major developments on trade as Japanese Prime Minister Shinzo Abe meets President Donald Trump at his Mar-a-Lago resort.
Indian stock markets closed higher yesterday, with the 30-share Sensex and Nifty finishing higher for the ninth straight session as investors seemed to have turned optimistic over the corporate earnings for the fiscal year 2018 and the IMD forecast on a normal monsoon lifted sentiments. BSE Sensex ended 89.63 points higher at 34,395.06 while Nifty added 20.35 points to conclude at 10,548.7 on Tuesday. Notably, this is the longest winning run since September 2014. Shares of Power Grid, NTPC, HUL, ICICI Bank, ITC, Bharti Airtel, M&M and HDFC emerged as the top gainers among the components of BSE Sensex on Tuesday.