Mumbai, Sep 16: Indian stock markets started Wednesday’s session on a firmer note, with the benchmark Sensex and Nifty recovering after the heavy selling seen in the previous trading session.
The Sensex gained more than 450 points at the opening, moving to around 74,249, while the Nifty 50 rose over 150 points to nearly 23,202. The early improvement was largely supported by buying in FMCG and banking stocks.
Among the major sectoral indices, FMCG, PSU banking, cement and automobile stocks attracted strong buying interest during the initial hours of trade. The gains indicated renewed participation from investors after Tuesday’s sharp decline.
The broader market, however, remained mixed, with some sectors continuing to face selling pressure. Investors were also keeping a close watch on crude oil prices, global bond yields and developments in international markets.
The previous session had been challenging for domestic equities. The Sensex ended Tuesday’s trade down nearly 778 points, while the Nifty declined close to 280 points, reflecting widespread selling across several sectors.
Wednesday’s recovery comes as investors look for stability following the recent market weakness. However, elevated crude prices and uncertainty in global financial markets remain important factors that could influence trading sentiment through the day.
Foreign investor activity is another factor being closely monitored by market participants. Continued overseas selling, combined with movements in the rupee and global interest rates, could contribute to volatility.
For domestic investors, the focus is likely to remain on whether the early buying momentum can continue through the session. Banking, FMCG, auto and cement stocks are expected to remain in focus, while global cues and crude oil movements could determine the broader market direction.
