Mumbai, November 12 (Udaipur Kiran): Indian equity markets opened on a positive note on Wednesday, tracking strong global cues and optimism over upcoming trade developments. At 9:22 a.m., the Sensex was up 455 points (0.54%) at 84,321, while the Nifty 50 gained 131 points (0.51%) to trade at 25,826.
The rally was led by IT stocks, with the Nifty IT index advancing 1.28%, followed by Nifty PSU Bank (0.69%), Nifty Financial Services (0.59%), Nifty Realty (0.66%), Nifty Energy (0.57%), Nifty Infra (0.60%), and Nifty Commodities (0.42%).
Broader market indices also moved higher. The Nifty Midcap 100 gained 342 points (0.57%) to 60,769, while the Nifty Smallcap 100 rose 116 points (0.64%) to 18,200.
In the Sensex pack, major gainers included TCS, Tech Mahindra, Bajaj Finserv, Infosys, Zomato (Eternal), Bharti Airtel, HCL Tech, Bajaj Finance, Axis Bank, SBI, UltraTech Cement, and Power Grid. On the losing side were BEL, HUL, Trent, Maruti Suzuki, ITC, and Sun Pharma.
Market experts attributed the upbeat opening to strong global sentiment, expectations of a possible trade deal between India and the US, and positive exit poll trends in Bihar indicating an edge for the NDA alliance. Analysts believe the bullish momentum could continue in the short term.
Most Asian markets were trading in the green, with Seoul, Jakarta, and Hong Kong posting gains, while Tokyo and Shanghai were marginally lower. Meanwhile, US markets ended mixed on Tuesday.
On the institutional front, foreign institutional investors (FIIs) continued their selling spree for the second consecutive day on November 11, offloading shares worth Rs. 803 crore, while domestic institutional investors (DIIs) maintained their buying momentum, purchasing Rs. 2,188 crore worth of equities on the same day.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
