IANS | 15 May, 2024
Indian benchmark indices inched higher on Wednesday, following positive global cues.
At
9:50 a.m., Sensex was up by 162 points or 0.22 per cent, at 72,266
points and Nifty was up by 76 points or 0.34 per cent, at 22,293 points.
In
early trade, Midcap and Smallcap outperformed benchmarks. The Nifty
midcap 100 was up by 427 points or 0.85 per cent, at 50,652 points and
the Nifty smallcap 100 was up by 152 points or 0.93 per cent, at 16,518
points.
Among sector indices, buying is in auto, IT, government
banks, pharma, and metal stocks. At the same time, pressure has been
seen on private finance companies in the market.
In the Sensex pack, 20 out of 30 shares were open in the green mark, and 10 shares were open in the red mark.
NTPC,
Tata Steel, Bharti Airtel, ITC, and Power Grid were the top five
gainers, whereas HDFC Bank, JSW Steel, HUL, UltraTech Cement, and
M&M were the top losers.
According to Vaishali Parekh, Vice
President - Technical Research, Prabhudas Lilladher Pvt Ltd, "Nifty
witnessed a decent pullback from the 21800 zone to arrive near the
significant 50 EMA zone of 22220 levels gaining strength and with
improving bias is anticipated to rise further for next 22550 levels in
the coming sessions."
"The zone near the 100 period MA of 22000
levels would be the crucial support zone which needs to sustain to
maintain the bias intact," she added.
Most Asian markets are
seeing mixed trading. The markets of Tokyo, Seoul, and Jakarta are
trading in the green and the markets of Bangkok, Hong Kong, and Shanghai
are trading in the red. US markets closed positive in Tuesday's
session.
