Indian equity indices opened Wednesday’s trading session on a higher note, taking note from Asian and US markets. The NSE Nifty 50 opened 45 points, or 0.19%, higher at 23,210, while the BSE Sensex rose 177 points, or 0.23%, to open at 76,201.
Bank Nifty opened 230 points or 0.45% higher at 51,037.85. The Nifty Midcap 100 advanced 172 points, or 0.33%, to open at 51,401.10.
The GIFT Nifty indicated that the equity markets might open on a positive note. It was up 47 points, or 0.20%, at 23,332. During the pre-open session, the Nifty 50 was up 27 points, or 0.12%, at 23,192.60, while the Sensex was up 122 points, or 0.16%, at 76,146.28.
“The element of uncertainty regarding reciprocal tariffs is expected to come down with the tariff declaration today. But considering Trump’s flip-flops on tariffs earlier, the uncertainty is likely to continue beyond today,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
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“It appears that FIIs turning buyers in the last several trading days of March was triggered by end-of-year considerations. The short-covering which FII buying triggered contributed to India’s outperformance in March. Now with FIIs selling for Rs 10255 crores in the cash market in two days, the shorting has resumed,” added Vijayakumar.
Tata Consumer Products, Infosys, HDFC Bank, HDFC Life Insurance, and Maruti Suzuki were the top gainers in the Nifty 50. On the other hand, BEL, Nestle India, Jio Financial Services, Hindustan Unilever, and Power Grid Corporation were the significant losers in the Nifty 50.
On April 02, the market breadth was in favour of the bears as out of 2,294 stocks traded, 655 stocks were trading in the green while 1,572 declined, as per the data on NSE.
Among the sectoral indices, the Nifty IT and Realty indices were the only ones to trade in the green.
Apart from that, the gold rate today has inched up to a new high of Rs 89,340, surging past its high of Rs 89,310. The price of gold has jumped 1.4% compared to a week ago,
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