Mumbai: Trading started on a positive note in the domestic stock market on Wednesday. After positive signals from global markets and huge fall in the previous trading session, buying was seen in Sensex and Nifty. Both major indices rose up to one percent in early trade.
BSE Sensex rose by 822.64 points or 1.11 percent to reach 74,675.54 points in early trade. At the same time, NSE's Nifty was seen trading at 23,106.60 points, rising by 217.65 points or 0.95 percent.
Strong rise in shares of Infosys and TCS
Among the 30 companies included in the Sensex, Infosys shares rose the most by about three percent. Tata Consultancy Services (TCS) recorded a rise of 2.6 percent and UltraTech Cement recorded a rise of 2.3 percent.
Apart from this, shares of Tech Mahindra, ICICI Bank, Reliance Industries, Bharti Airtel, ITC, Larsen & Toubro, State Bank of India, HDFC Bank and Asian Paints were also trading with gains.
On the other hand, shares of Bajaj Finance, Bharat Electronics Limited, Indigo, Trent, Eternal, Bajaj Finserv, Mahindra & Mahindra, NTPC, Maruti Suzuki India, Titan and Axis Bank declined.
Jio IPO got 85 percent subscription in first minutes
Investor interest was also seen in the Rs 30,213 crore initial public offering (IPO) of Reliance Group's Jio Platforms. According to the news, within a few minutes of the IPO opening, it got 85 percent subscription.
Mixed business for Asian markets
There was a mixed trend in Asian markets on Wednesday. South Korea's Kospi rose 2.6 percent, while Japan's Nikkei 225 gained nearly one percent. On the other hand, Hong Kong's Hang Seng and China's SSE Composite were trading in decline.
Earlier on Tuesday, American markets mostly closed with gains. However, the price of international oil standard Brent crude futures rose 1.46 percent to $ 110.38 per barrel.
Foreign investors sold shares, domestic investors bought
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,148.64 crore on Monday. In contrast, domestic institutional investors (DIIs) bought shares worth Rs 3,201.19 crore.
Domestic stock markets were closed on Tuesday due to Dussehra. Earlier on Monday, the Sensex had closed with a loss of 876.37 points, while the Nifty had recorded a fall of 257.20 points. Wednesday's early rise gave the market some relief after the previous session's decline.
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