Sensex Up 200 Points, Nifty Above 23,300; IT Stocks Shine

Indian bourses opened with optimism on Wednesday morning, with the benchmark BSE Sensex and Nifty soaring in early trades. The BSE Sensex gained 206 points to 76,663 levels, while the Nifty50 surged by 0.34 per cent at 23,344 levels.

Tech Mahindra, Tata Motors, HCL Tech, TCS and Powergrid were the top gainers on Sensex, whereas Bharti Airtel, Axis Bank,, ICICI Bank, Asian Paints and Ultratech Cement were among losers.

On Nifty 50 BPCL, Wipro, and LTIMindtree were among the top five leaders while NTpC, Grasim Industries, and Titan led the losses.

Broader indices outperformed the benchmarks with MidCap index rising 0.49 and the SmallCap index above 0.62 per cent.

Global Cues

Asia-Pacific markets displayed a mixed performance on Wednesday, as investors awaited inflation data from India and assesed the inflation print of China. China’s inflation increased by 0.3 per cent in May against an expectaion of 0.4 per cent. Investors are also eyeing the upcoming decision by the US Federal Reserve, scheduled for Wednesday.

In the Asian market, Japan’s Nikkei 225 dropped by 0.79 per cent higher, while the broader Topix index slipped by 0.63 per cent.

South Korea’s Kospi was up 0.35 per cent, while the small-cap Kosdaq index surged by 0.37 per cent.

However, Australia’s S&P/ASX 200 experienced a decline of 0.72 per cent. Meanwhile, Hong Kong’s Hang Seng index futures were down 0.78 per cent.

Overnight on Wall Street, the S&P 500 index and the Nasdaq Composite rose to fresh closing highs, gaining 0.27 per cent and 0.88 per cent, respectively. On the other hand, the Dow Jones Industrial Average shedded 0.31 per cent.