Domestic benchmark indices trading in the green today led by FMCG, Consumer Durable and Oil & Gas stocks. Both the Sensex and Nifty benchmarks were marginally higher amid festive season environment in the country.
Further, the development comes after oil prices settled lower on Tuesday on fears of higher US supply combined with an economic slowdown. Also, being the world’s third biggest importer and consumer of oil, markets benefitted from a fall in crude prices as it brings down imported inflation.
On the sectoral front, metal, IT sectors were under selling pressure while FMCG and oil & gas stocks on a marginal upside graph to drive the market sentiments.
At around 2:00 PM, Sensex was trading at 59,079.88 higher by 119.28 points or 0.20%. Nifty 50 traded at 17,512.85 higher 25.90 points or 0.15%.
Top Bulls on Nifty 50 are: HDFC (+2.10%), RIL (+1.97%), Nestle India (+1.67%) supported by ITC (+1.41%) and Axis Bank (+1.34%). Meanwhile, top losers on Nifty 50 are: SBI (-1.55%), Tata Consumers (-1.51%), JSW Steel (-1.37%), Coal India (-1.26%) and Bajaj Finserv (-1.25%).
Meanwhile, on the global front, Asia index trading mostly higher on Wednesday, with U.S. corporate earnings driving sentiment, while traders awaited British inflation readings later in the day.
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