Opening Bell - Nifty opens above 9800; Bharti Airtel top gainer
Bharti Airtel was top Sensex gainer and was trading at Rs 401.1 per share, up by 1.43% whereas TCS was top Sensex loser and was trading at Rs 2449 per share, down by 0.9% at the opening bell on Wednesday.
There were 988 advances, 435 declines and 481 unchanged stocks on NSE reflecting strong positive sentiments in the market. There was some buying activity in Telecom, Auto, Capital Goods while some selling activity was seen in IT sector on BSE.
BSE Mid-cap index was trading at 14970 level, up by 47 points while BSE Small-cap index was trading at 15854 level, up by 48 points. Biocon was top gainer in Mid-cap index while KECL was top gainer in Small-cap index.
Important quarterly financial results to watch out for is Bajaj Corp. The stock was trading at Rs 400.9 per share, up by 1.21% on BSE at the opening bell.
The rupee opened at 64.51 per USD, higher by 8 paise.
On the daily chart, Nifty50 formed a ‘Shooting Star’-like candlestick pattern. Now, going forward, supports for the Nifty50 index are seen around the levels of 9,750 and 9,700. On the flipside, resistance for Nifty50 is likely to come in around zone of 9,830-9,840.
The Nasdaq Composite index jumped 17 points to end at 6,193. The Dow Jones Industrial Average recovered smartly from lower levels to close virtually unchanged; The S&P 500 shed 2 points to finish at 2,426. The markets had initially turned South as investors reacted to chain of mails released by Donald Trump Jr., which stated that the Russian government backed his father’s presidential campaign.
Majority of the Asian Stocks are trading in the positive terrain in early trade on Wednesday. Hong Kong's Hang Seng is leading the way with gains of 217 points, followed by China’s Shanghai Composite which has moved up by 3 points. Bucking the trend, Japan’s Nikkei 225 has lost 68 points.