INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Headline indices Sensex and Nifty registered healthy openings on Wednesday on a fresh spell of buying in most sectors, led by
bank, financials, metal and IT
Market turned positive after three consecutive sessions of losses, tracking global markets that eked out modest gains ahead of US Fed
monetary policy meet outcome
Investors are looking to the outcome of the Federal Reserve's rates review later in the day, with expectations policymakers will reinforce
their recent dovish stance given signs of a slowdown in the US economy, Reuters reported.
Moreover, market is hoping positive development at
the front of ongoing US-China trade talks as well
Sensex surged over 250 points in early deals, while Nifty touched 10,710.
Around 9:30 am, the 30-share Sensex was 170 points, or 0.48 per
up at 35,763, with 20 stocks advancing
The Nifty pack was 52 points, or 0.48 per cent, up at 10,704 at that time
Out of total 50 stocks in the Nifty index, 32 were in the green and 18 were in the red
BSE Midcap and Smallcap indices were 0.21 and 0.47 per cent up, respectively
Shares of Axis Bank jumped over 5 per cent, leading the pack of Sensex gainers.
Shares of the lender surged after it surprised investors
with earnings that beat estimates with a leg-up from its treasury operations and a recovery in profits in corporate lending as the new chief
executive set a three-year agenda to re-orient the institution with a higher profitability
The bank said net profit rose 2.3 times at Rs 1,681 crore in the December quarter
ICICI Bank climbed 3 per cent ahead of its December quarter earnings, scheduled later today
Shares of HCL Tech jumped 3 per cent, a day after it reported a 19 per cent YoY rise in net profit at Rs 2,611 crore for the December
It was up 2.8 per cent on sequential basis
Among the sectoral indices on BSE, bank and metals climbed over 1 per cent.
Out of 10 stocks in the BSE Bankex index, shares of Axis Bank,
ICICI Bank, YES Bank, Bank of Baroda, State Bank of India and IndusInd Bank were in the green, whereas shares of HDFC Bank, City Union Bank,
Kotak Mahindra Bank and Federal Bank were in the red.
All 10 componenets of the BSE Metal pack were trading with gains, with Tata Steel,
NMDC and SAIL leading the pack, rising up to 4 per cent.
