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Sensex above 1,000 points as stock markets open in green amid US-China trade war
At 9:15 am, the BSE benchmark Sensex was up by more than 1,000 points and trading at 74,942.46
The Indian stock market opened in the green amid the global uncertainties due to the ongoing US-China trade war.
At 9:15 am, the BSE benchmark Sensex was up by more than 1,000 points and trading at 74,942.46. The NSE Nifty was trading at 22,746.40, up by 347.25 points from the previous close.
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The market closed in the red after the previous trading session ended on Wednesday, April 10.
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The Sensex was down by 379.93 points or 0.51 per cent, reaching 73,847.15. The Nifty was 136.70 points down or 0.61 per cent in the red, reaching 22,399.15.
Among the Sensex stocks, SBI fell the most by 3.43 per cent, trading at ₹742.05. This was followed by Tech Mahindra, which was down 3.25 per cent, trading at ₹1,272.20, and Larsen & Toubro, which was up by 3.23 per cent, trading at ₹3,059.10.
12 of the Sensex stocks were in the green.
Among the Nifty sectoral indices, the PSU Bank Index fell the most by 2.52 per cent, reaching 6,092.55. This was followed by Nifty IT, which was down 2.19 per cent, reaching 32,517.35, and Nifty Pharma, which was down 1.97 per cent, reaching 19,976.30.
Which stocks fell the most on Wednesday?
Among the 30 Sensex stocks, SBI fell the most by 3.43 per cent, trading at ₹742.05 on Wed. This was followed by Tech Mahindra, which was down 3.25 per cent, trading at ₹1,272.20, and Larsen & Toubro, which was up by 3.23 per cent, trading at ₹3,059.10.
12 of the Sensex stocks were in the green.
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How did individual sectors perform?
Among the Nifty sectoral indices, the PSU Bank Index fell the most by 2.52 per cent, reaching 6,092.55. This was followed by Nifty IT, which was down 2.19 per cent, reaching 32,517.35, and Nifty Pharma, which was down 1.97 per cent, reaching 19,976.30.
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Foreign Institutional Investors (FIIs) were net sellers of ₹4,358.02 crore worth of equities, while Domestic Institutional Investors (DIIs) were buyers, purchasing a difference of ₹2,976.66 crore worth of equities.
Meanwhile, the 10-year India Government Bond was up by 0.24% or ₹0.25 from previously, reaching a value of ₹102.46.
Akshay Chinchalkar, Head of Research, Axis Securities, said,"The Nifty is likely to open near the 22800 - 22900 area, but follow-through will be closely watched out for. 23000 will be the first round-number hurdle, followed by the all-important 23000 - 23500 zone where the 50- and the 100-day moving averages are offering resistance."
“After the gap-up expected today, bulls would not like to see the market drop below 22572, so that will serve as crucial tactical support. Finishing the day above 22857 will fan further optimism, but we would like to note that volatility is expected to remain high due to the rate at which global newsflow is evolving,” Chinchalkar added.
