Rise in metal stocks contributed to early trading gains for Sensex and Nifty

Wednesday’s opening session witnessed increases for benchmark stock indexes, driven by a spike in auto and metals sectors.

The focus on the quarterly reports from a number of Nifty50 businesses this week also contributed to the uptick.

At 9:25 a.m. IST, the NSE Nifty50 increased by 0.2% to 22,405, while the S&P BSE Sensex increased by 0.24% to reach 73,884.

Tata Consumer Products suffered a blow when its fourth-quarter sales fell short of analysts’ projections, causing a 4.2% decline in the Nifty50 index.

As US markets saw a positive trend on Wednesday, Asian shares also saw an increase. Investor anxiety was reduced by the positive results reports from a few corporations, alluding to the Middle East.

“The sudden upswing in US markets and the ensuing rise in Asian stocks suggest that both the Sensex and the Nifty will start strongly. The Middle East’s tensions may be lessened if global crude oil prices drop below $83 per barrel, according to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In addition, he said that investors anticipate the present regime to be maintained in the general elections and that global tensions would lessen. This has helped to reverse the downward trend that the markets had been experiencing in recent sessions.

Hindustan Unilever, LTIMindtree, and Axis Bank are among the Nifty50 companies that are expected to release their financial results today. Later this week, Maruti Suzuki and Bajaj Finance will both release their earnings reports.