Sensex gains more than 218 points in the first transaction, as Nifty tests the 17,000 barrier
Early on Wednesday, with new inflows of foreign funds and buying in HDFC Twins, benchmark indexes were trading in the green.
In the first round of trading, the 30-share BSE Sensex rose 218.68 points to 57,832.40. The NSE Nifty, a wider index, increased 71.5 points to 17,023.20.
Mahindra & Mahindra, Hindustan Unilever, HCL Technologies, Tata Motors, Bajaj Finserv, Bajaj Finance, HDFC Bank, and HDFC were among the Sensex companies that had the most gains.
The leaders were Tata Steel, IndusInd Bank, Reliance Industries, and Axis Bank.
Japan and Hong Kong were trading higher on Asian markets, while Seoul and Shanghai were trading down.
The American stock markets fell on Tuesday.
"The market is expected to be range-bound for a few days before changing course in the absence of short-term indications. Markets would be impacted by information linked to the financial crisis, the Fed's reaction to inflation, and other factors in the near future "V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
On Tuesday, the Sensex finished 40.14 points, or 0.07 percent, down at 57,613.72. The Nifty closed at 16,951.70, down 34 points, or 0.20 percent.
Brent crude, the benchmark for all crude oil, increased 0.19 percent to USD 78.80 a barrel.
According to market statistics, Foreign Portfolio Investors (FPIs) switched from being sellers to buys on Tuesday, purchasing shares of stock worth Rs. 1,531.13 crore.