Mumbai: The Indian stock market opened with a rise on Wednesday. All-round buying is being seen in the market. At 9:32 am, the Sensex was at 81,754, up 119 points or 0.14 per cent, and the Nifty was at 25,061, up 48 points or 0.19 per cent.
The market trend remains positive. On the National Stock Exchange (NSE), 1,855 shares were in the green and 396 shares were in the red. Tata Motors, Maruti Suzuki, Tech Mahindra, HCL Tech, Bajaj Finance, SBI, Wipro, Bharti Airtel, Asian Paints, Bajaj Finserv, Axis Bank, TCS and Infosys were the top gainers in the Sensex pack. ITC, Nestle, Reliance, JSW Steel, Kotak Mahindra Bank, NTPC, HUL, L&T and ICICI Bank were the top losers. MPC's decision on interest rates will be announced by RBI Governor Shaktikanta Das at 10 am. At present the repo rate is 6.5 percent. According to experts, the Central Bank can keep it as it is.
Mixed trading is taking place in the markets of Asia. The markets of Tokyo and Bangkok are bullish, while the markets of Shanghai, Hong Kong, Jakarta and Seoul are in the red. American stock markets closed in the green on Tuesday. Sagar Shinde, consultant at Stoxkart, said that despite the recovery in the market in Tuesday's session, both Nifty and Sensex remain below the short term average. 25,100, 25,200 and 25,300 are important resistance levels in Nifty. The market may decline around these levels.
Market experts say that BJP's victory in Haryana has provided support to the market. The market has also gained momentum on the expectation of keeping the monetary policy stance from accommodation to neutral in the RBI MPC. However, there is little hope of a repo rate cut in the monetary policy coming today due to food inflation.
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