Indian benchmark indices opened with minor gains on Wednesday, tracking mixed global cues. The Nifty edged closer to the 25,000 mark, adding 58.70 points, or 0.24 percent, to reach 24,916. The Sensex gained 187.35 points, or 0.23 percent, to reach 81,642.75.
Sectoral indices on the NSE saw gains in Bank, Auto, Financial Services, FMCG, IT, Media, Metal, Pharma, Healthcare, Consumer Durables, Oil, and Gas, while PSU Bank, Private Bank, and Realty sectors opened in the red.
Top gainers on the Nifty included NTPC, Tata Motors, BPCL, Maruti Suzuki, and Titan Company, while shares of Tata Consumer, Axis Bank, Coal India, Power Grid Corp, and Reliance Industries witnessed the biggest decline.
Market experts expect the index to see consolidation or minor dips over the next few sessions before a potential rebound.
“Nasdaq is near correction territory, having fallen 9 percent from its recent all-time highs. This, combined with policy meeting outcomes from the Bank of Japan and the US Fed will keep markets volatile for today, said Ajay Bagga, banking and market expert.
“Indian markets have been trying to rise above recent highs, but large outflows by FPIs are causing concerns. Expect sideways markets for now,” he added.
Asian markets showed mixed performances ahead of key economic data and central bank decisions. Japan’s Nikkei 225 fell by 0.84 percent, while South Korea’s Kospi rose by 0.48 percent.
In the US, the market closed with mixed results. The Dow Jones Industrial Average increased by 0.5 percent, while the S&P 500 decreased by 0.5 percent. Tech stocks were particularly pressured, with Microsoft and Nvidia shares dropping by 5 percent and 7.04 percent, respectively.
(With ANI input)
