India News | Markets Trade Higher in Early Trade; Nifty Tests 17k Level
Get latest articles and stories on India at LatestLY. Benchmark indices were trading in the positive territory in early trade on Wednesday amid fresh foreign fund inflows and buying in HDFC twins.
Mumbai, Mar 29 (PTI) Benchmark indices were trading in the positive territory in early trade on Wednesday amid fresh foreign fund inflows and buying in HDFC twins.
The 30-share BSE Sensex advanced 218.68 points to 57,832.40 in initial trade. The broader NSE Nifty climbed 71.5 points to 17,023.20.
Among the Sensex firms, Mahindra & Mahindra, Hindustan Unilever, HCL Technologies, Tata Motors, Bajaj Finserv, Bajaj Finance, HDFC Bank and HDFC were the major gainers.
IndusInd Bank, Reliance Industries, Tata Steel and Axis Bank were the laggards.
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In Asian markets, Japan and Hong Kong were trading in the green while Seoul and Shanghai quoted lower.
The US markets ended lower on Tuesday.
"In the absence of near-term cues, the market is likely to remain range-bound for some days before taking a new direction. Cues from the mother market US on inflation, the Fed response and the banking crisis related news will weigh on markets in the near-term," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Sensex ended 40.14 points or 0.07 per cent lower at 57,613.72 on Tuesday. The Nifty went lower by 34 points or 0.20 per cent to finish at 16,951.70.
Meanwhile, global oil benchmark Brent crude advanced 0.19 per cent to USD 78.80 per barrel.
Foreign Portfolio Investors (FPIs) turned buyers on Tuesday as they bought equities worth Rs 1,531.13 crore, according to exchange data.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)