Opening bell: Domestic equity barometers soar higher in early morning deals
Overseas and Asian markets were neutral on Wednesday as investors awaited market reaction to a somewhat hotter-than-expected inflation report from the United States.
Strong US futures, along with China's reopening after Covid restrictions were removed, led to Asian indices opening in the green. Selling was seen by foreign portfolio investors (FPIs) worth Rs 3128.39 crore; while in domestic institutional investors (DIIs), buying was seen at Rs 870.01 crore in the Indian markets on April 12. Crude oil is trading at USD 100.5 per barrel. The Rupee has appreciated this morning by a small margin of 0.04% and is trading at 76.12 against the dollar.
The BSE Sensex surged by 371 points and is trading at 58,947.39 levels. BSE MidCap also moved upwards by 147 points and is trading at 25,185.11, SmallCap has climbed by 271 points and is trading at 29,713.83 levels. The stocks trading in the green on Sensex are Tata Steel, Bharti Airtel, Hindustan Unilever, Bajaj Finance, and ITC.
The Nifty 50 index after ending in red yesterday opened on a positive note today up by 110 points and is now trading at 17,640.50 levels. Bank Nifty is also trading higher by 178 points at 37,925.65 levels. The gainers on Nifty 50 are JSW Steel, UPL, Tata Steel, ONGC, and Apollo Hospitals.
The market outlook is positive as out of 1,610 stocks traded, the numbers of stocks advanced are 1,164 and 369 stocks that have declined in the morning session, 137 stocks are locked up in the upper circuit and 68 stocks are locked in the lower circuit today. There are 100 stocks that are trading at a 52-week high and there are only 3 stocks that are trading at a 52-week low.
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