Stock Market: Sensex and Nifty registers comprehensive gain in early trade

The domestic stock market began its business on a positive note on Wednesday. In the first few minutes of trade, the Sensex traded at 33,939.92, up 48.79 points or 0.14 percent, while Nifty was at 10,202.85, with a gain of 4.45 points or 0.04 percent.

Notably, the Sensex opened at 33,963.09 and the Nifty of National Stock Exchange (NSE) at 10,209.55. Thirty-eight Nifty stocks traded with gains. Yes Bank, HDFC, Tata Consultancy Services, Indiabulls Housing Finance and Infosys were the top five Nifty gainers.

All 10 stocks of the Nifty PSU Bank index advanced in trade. While Tech Mahindra rose 2.10 percent after reporting 27.3 percent jump in second-quarter net profit to Rs. 1,064 crore, Bank of Baroda surged 2 percent after posting a 19.7 percent rise in second-quarter net profit to Rs. 425 crore.

In the global markets, MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.75 percent, but it was still on track to fall roughly 11 percent this month.

According to Reuters, Wall Street’s three stock indexes jumped more than 1 percent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following the steep recent pullback for equities.

On Tuesday, Sensex shed 176 points, or 0.5 percent, to end at 33,891, while Nifty settled at 10,198.40. As per the provisional NSE data, foreign portfolio investors (FPIs) sold while domestic institutional investors purchased net shares of Rs. 1,592.02 crore and Rs. 1,363.04 crore respectively.

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