The domestic benchmark indices opened flat on Wednesday amid weak global cues, with selling pressure seen in the IT and auto sectors during early trade.
As of 9:29 a.m., the Sensex was trading 23.12 points or 0.03% higher at 76,758.01, while the Nifty rose by 5.90 points or 0.03% to 23,334.45.
The Nifty Bank index was up 258.05 points or 0.49% at 52,637.55. The Nifty Midcap 100 was trading at 52,148.35 after gaining 173.90 points or 0.33%, while the Nifty Smallcap 100 was at 16,284.80, up 105.50 points or 0.65%.
According to market watchers, the Nifty has decisively reclaimed levels above its 20-, 50-, and 100-day moving averages — a clearly encouraging sign for the bulls.
Within the Sensex pack, Infosys, Maruti Suzuki, Tech Mahindra, HCL Tech, and Sun Pharma were the top losers, while HDFC Bank, IndusInd Bank, Kotak Bank, ICICI Bank, and Axis Bank led the gainers.
In the previous trading session, the Dow Jones in the US declined 0.38% to close at 40,368.96. The S&P 500 fell 0.17% to 5,396.63, and the Nasdaq slipped 0.05% to close at 16,823.17.
Among Asian markets, Jakarta was trading in the green, while Japan, Seoul, China, Bangkok, and Hong Kong were in the red.
After being net sellers for nine consecutive days, foreign institutional investors (FIIs) turned net buyers on April 15, purchasing equities worth Rs 6,065.78 crore. Meanwhile, domestic institutional investors (DIIs) turned net sellers after three days, offloading equities worth Rs 1,951.60 crore on the same day.
—IANS
