Indian equity benchmark indices opened on a positive note on Wednesday, tracking the strength from global markets. The BSE Sensex climbed 50 points to 79,000, while the NSE Nifty 50 reached a high of 24,196, hovering around 24,150 levels. Among the Sensex 30 stocks, Tata Motors emerged as the top gainer, rising over 1%. Other notable gainers included SBI, Sun Pharma, Tech Mahindra, and Larsen & Toubro. Conversely, Adani Ports, UltraTech Cement, ICICI Bank, and Axis Bank were among the notable losers.
Mixed performance in broader markets
In the broader market, the BSE MidCap index inched up by 0.1%, while the SmallCap index saw a slight decline of 0.1%.
Global cues boost sentiment
Global markets provided positive cues, with the US market ending with strong gains. The Dow Jones rose by 1%, and NASDAQ surged by 2.4% after the Producer Price Index (PPI) inflation in the US increased by just 0.1% in July, below expectations. This eased concerns about further interest rate hikes. Asian markets followed suit, with Nikkei, Kospi, and Taiwan indices rallying over 1% each, while Hang Seng added 0.2%.
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