Mumbai, April 29: The Indian stock market opened on a positive note on Wednesday, driven by strong global signals. At 9:18 AM, the Sensex rose by 306 points or 0.40% to reach 77,193, while the Nifty gained 88 points or 0.33%, climbing to 24,085.
In the early trading session, the market rally was led by the auto and defense sectors. The Nifty India Defense and Nifty Auto were among the top gainers. Additionally, Nifty Infra, Nifty Oil and Gas, Nifty Realty, Nifty FMCG, Nifty Energy, and Nifty Pharma also showed positive movement. Conversely, Nifty Metal, Nifty Financial Services, and Nifty PSU were the laggards.
Both large-cap and mid-cap stocks experienced gains, with the Nifty Smallcap 100 Index rising by 149 points or 0.83% to 18,125, and the Nifty Midcap 100 Index up by 208 points or 0.35% to 60,628.
Notable gainers in the Sensex pack included Maruti Suzuki, ITC, Tech Mahindra, Eternal, Bharti Airtel, UltraTech Cement, Infosys, BEL, Adani Ports, HUL, TCS, Trent, and SBI. On the other hand, Tata Steel, NTPC, ICICI Bank, Bajaj Finserv, Bajaj Finance, Axis Bank, Asian Paints, and HCL Tech faced losses.
Market experts noted that the exit of the UAE from OPEC has slightly pressured crude oil prices, yet they remain around $110 per barrel due to ongoing tensions between the U.S. and Iran. Investors are now focused on the Federal Reserve’s meeting, with a decision expected later tonight.
Most Asian markets were trading positively, with Shanghai, Hong Kong, Seoul, Jakarta, and Bangkok in the green, while the Japanese market was closed for a national holiday.
The U.S. stock market closed lower on Tuesday, with the Dow Jones down by 0.05% and the technology index falling by 0.90%.
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