Indian stock market opened on a positive note on Wednesday. The NSE Nifty 50 index opened 29 points or 0.1% higher at 24,886.70 level, while the BSE Sensex opened 200.50 points or 0.24% higher at 81,655.90 level.
Maruti Suzuki and NTPC were the top gainers in early trade, while Axis Bank and Power Grid were the top laggards. Asian Paints and Hindalco were the top gainers on the NSE, while Power Grid and Tata Consumer were the top laggards.
The broader markets were mixed. Nifty Smallcap was down 0.33%, while Midcap was up 0.27%.
Sectorally, Nifty Consumer Durables and Pharma were leading with gains of over 0.6% each. FMCG, meanwhile, rose 0.5%.
Amid mixed global cues, this positive opening of the domestic market boosted investor confidence. Although the psychological level of 25,000 remains a strong resistance level for the Nifty, this market performance is better than expected.
Going forward, investors will keep an eye on financial results of companies and economic indicators. Also, keep an eye on any important developments in the global markets. Overall, this positive start of the Indian stock market reflects investor confidence at both domestic and global levels.
