Sensex and Nifty trade higher, banking stocks top gainers today

India fairness indices opened within the inexperienced on Wednesday following which top non-public banks like IndusInd Bank, ICICI Bank and Axis Bank have turn into top gainers in Sensex. In early trade, Sensex and Nifty rose to a brand new all-time excessive of 77,581 and 23,630 respectively.

At 9:40 a.m., the Bombay Stock Exchange (BSE) benchmark was up 152 factors or 0.20 per cent, at 77,453 and Nifty was up 10 factors or 0.04 per cent, at 23,568. Broder market underperforms in comparison with large-cap stocks.

Nifty midcap 100 index is down 479 factors or 0.87 per cent, at 55,009 and Nifty smallcap 100 index is down 155 factors or 0.85 per cent, at 18,080. Among the sectoral indices, Fin service, pharma, banks, and service sector are main gainers.

Auto, IT, FMCG, steel, and realty are main laggards. Deven Mehata, Research Analyst, Choice Broking mentioned, “After a niche up, Nifty can discover assist at 23,500 adopted by 23,450 and 23,400. On the upper facet, 23,650 could be a direct resistance, adopted by 23,700 and 23,800.”

The Foreign institutional traders (FIIs) prolonged their shopping for as they bought equities value Rs 2,569 crore on June 18, whereas home institutional traders additionally purchased equities value Rs 1,555 crore on the identical day.

The markets of Tokyo, Hong Kong, Seoul and Jakarta are buying and selling within the inexperienced. However, the markets of Bangkok and Shanghai are buying and selling within the pink. American markets closed sharply on Tuesday. Crude oil benchmark Brent crude is at $85 per barrel and WTI at $80 per barrel.

(With inputs from IANS)