The Indian fairness benchmarks edged increased in opening offers on Wednesday, a day forward of month-to-month expiry of May futures and choice contracts. The Sensex rose as a lot as 264 factors to hit an intraday excessive of 50,637.53 and Nifty 50 index touched an intraday excessive of 15,258.60.
As of 9:23 am, the Sensex was up 75 factors at 50,712 and Nifty superior 13 factors to 15,211.
Asian shares rose on Wednesday whereas the US greenback stood close to its lowest ranges this yr after US Federal Reserve officers reaffirmed a dovish financial coverage stance, offering but extra assurance to buyers apprehensive concerning the inflation outlook.
Seven of 11 sector gauges compiled by the National Stock Exchange had been buying and selling increased led by the Nifty Media index’s practically 2 per cent achieve. Auto, pharma and realty indices had been additionally buying and selling increased.
On the opposite hand, Nifty Metal, Bank, PSU Bank and Private Bank indices had been among the many losers.
Mid- and small-cap shares had been buying and selling in a combined observe as Nifty Midcap 100 index was buying and selling flat whereas Nifty Smallcap 100 index rose 0.6 per cent.
Titan, UPL, Tata Motors, Cipla, SBI Life, Sun Pharma, Grasim Industries, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finserv and Hindustan Unilever had been among the many high Nifty gainers.
On the flipside, JSW Steel, Tata Steel, Power Grid, Hindalco, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, HCL Technologies, Adani Ports and NTPC had been among the many losers.
The total market breadth was constructive as 1,591 shares had been advancing whereas 757 had been declining on the BSE.