Stock Market Updates: Sensex Climbs 300 pts, Nifty Above 20K; PSU Bank Index Up 1%
Stock Market Updates: Sensex Climbs 300 pts, Nifty Above 20K; PSU Bank Index Up 1%
Domestic markets opened with fractional losses on Wednesday, tracking weakness across their global peers

Sensex Today: Domestic markets indices were trading near the day’s high with the BSE Sensex index up 265 points at 67,490, while the Nifty50 index was seen holding 20,050-mark.

Grasim, Coal India, Bharti Airtel, BPCL, Titan, ONGC, Tata Consumer, Power Grid, Hindalco, Axis Bank, Tata Steel, Kotak Bank, and Tata Motors were the top gainers, rising in the range of 0.8 per cent to 3.5 per cent.

In the broader market, the BSE MidCap index was down 0.32 per cent, while the BSESmallCap index was trading with gains of 0.26 per cent.

Sectorally,the Nifty IT, Realty, Auto, and FMCG indices were in the red, down up to 0.5 per cent. On the upside, the Nifty PSU Bank index was up 1 per cent.

Global Cues

European shares fell on Wednesday with investors bracing for a crucial U.S. inflation report due later in the day for cues on the Federal Reserve’s interest rate trajectory.

The pan-European STOXX 600 fell 0.5 per cent by 0707 GMT, with rate-sensitive tech stocks down 0.8 per cent.

Japan’s Nikkei share average ended lower in range-bound trade on Wednesday ahead of a key US inflation report, but losses were limited as investors bought value shares that can withstand higher rates.

The Nikkei fell 0.21 per cent to close at 32,706.52 after rising as much as 0.3 per cent earlier in the session. The broader Topix declined 0.5 per cent to 2,378.64.

“The market had little direction today, in part as investors awaited U.S. inflation data,” said Hideyuki Suzuki, general manager of investment research at SBI Securities.

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