Domestic major equity indices, the Sensex and Nifty50, began higher on Wednesday, buoyed by gains in banking and IT firms. This comes after the previous session's more than seven-month low, which was set amid uncertainty over US policy direction under President Donald Trump and concerns over corporate results.
At 10:52 a.m., the BSE Sensex was up 378.68 points, or 0.50%, at 76,217.04, while the Nifty50 rose 87.00 points, or 0.38%, to 23,111.65.
Both benchmarks fell roughly 1.5% on Tuesday, closing at their lowest levels since June 6, while volatility in Indian markets reached its peak since early August.
Sun Pharma, Infosys, TCS, ITC, L&T, and Maruti were among the Sensex stocks that opened higher, while Zomato, Tata Motors, Tata Steel, Power Grid, and SBI opened lower.
Among individual stocks, IndiaMart InterMesh fell 10% after announcing disappointing Q3 profits.
ICICI Prudential Life Insurance Company's shares fell 8.5% in early trading on poor Q3 earnings.
On the sectoral front, Nifty Bank, FMCG, and IT opened higher, while Auto, Metal, PSU Bank, Realty, Consumer Durables, and Oil & Gas opened lower.
Experts Take
"So far, President Trump's directives and statements have caused disruptions. Initially, he is using tough words to convey the impression that harsher measures are on the way.
Trump's election campaign rhetoric is echoed in his promise to impose 100% tariffs on the BRICS if they seek dedollarization. The markets took this threat too seriously, according to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Compared to its peak in September 2024, the Nifty is down almost 12%. For long-term investors, the correction offers a fantastic chance to purchase reliable stocks at affordable prices. According to Vijayakumar, the secret to success will be patience.
Choice Broking's Hardik Matalia said, "The Nifty can find support at 22,950, followed by 22,800 and 22,600, following a positive start. Higher up, 23,100 might be a hurdle right away, followed by 23,250 and 23,400."
Global markets
Although tariff uncertainty kept the dollar close to two-week lows, global shares climbed Wednesday as US President Donald Trump's flurry of new ideas and robust corporate profits boosted investor confidence.
After the streaming behemoth gained a record number of subscribers last quarter, enabling it to hike fees for the bulk of subscription plans in the US and other countries, Netflix's shares surged 14% in after-hours trading. This helped raise Nasdaq futures by 0.5% in Asia. S&P 500 futures also increased 0.2%.
Japan's Nikkei index rose 1.4%, matching wide advances on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1%, with Chinese stock declines offsetting strong gains in Taiwan and South Korea.
