News India Live, Digital Desk: Sensex and nifty: The Indian leading index opened in green mark on Wednesday after retail inflation reaches a low-lying level and reduced geopolitical tension. At around 9:25 am, the Sensex rose 414 points or 0.51 percent to 81,562 and the Nifty increased by 136 points or 0.55 percent to 24,712.
All the indices on the sectoral front were trading in the green mark. Auto, IT, PSU Bank, FMCG, Metal, Energy, Infra and PSE were the fastest.
Choice Broking Hardik Matalia said, “After a positive start, the Nifty can get support at 24,500, followed by 24,400 and 24,300. At the upper level, at the upper level, 24,700 can be immediate resistance, followed by 24,800 and 24,850.”
The shares included in the Sensex were Tata Steel, Bharti Airtel, Tech Mahindra, Infosys, Eternal, HCL Tech, M&M, Bajaj Finserv, L&T, TCS, SBI and NTPC. On the other hand, Tata Motors, Asian Paints, IndusInd Bank, HUL, Nestle and Kotak Mahindra Bank were prominently damaged.
Earlier, India’s retail inflation declined from 3.34 percent in March to 3.16 percent in April, which is its lowest level since July 2019.
Principal Devarsh Advocate, Prime Research Head of HDFC Securities said, “With a rapid decline in crude oil prices, softening of domestic demand and control over food prices, we hope that RBI will make a aggressive cuts in rates.”
Asian stock markets were mixed with mixed trend. Hong Kong, Shanghai, Seoul and Jakarta were on the green mark, while Japan and Bangkok were on the red mark.
On Tuesday, the American markets closed with mixed trend. The main index Dow Jones closed at the red mark and the technology index Nasdaq closed with the uplift for the second consecutive day after inflation figures.
Foreign institutional investors (FIIs) sold equity worth Rs 476 crore on 13 May, while domestic institutional investors (DIIs) continued their purchases on the third day and bought equity worth Rs 4,273 crore on the same day.
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