Stock Market Today: Stock markets rise due to buying in banking sector, slight rise in Sensex-Nifty in early trade
Mumbai. There was a rise in the domestic stock markets in early trading on Wednesday due to buying in the banking sector. Banking stocks witnessed a rise after the Reserve Bank announced to buy government securities worth Rs 2,00,000 crore in December-January. At the same time, there is pressure on shares of IT sectors. BSE’s 30-share sensitive index Sensex opened with a slight gain of 8.27 points at 85,533.11 points.
At the time of writing, it was up 120.65 points (0.14 percent) at 85,645.49. After opening with a fall of 6.60 points at 26,170.55 points, the Nifty-50 index of the National Stock Exchange rose 30.35 points or 0.12 percent to 26,207.50 points at the time of writing.
There is buying pressure in metal, media, reality and banking sectors while IT companies are currently under pressure. The main contributors to the rise of Sensex were Bajaj Finance, HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank. Infosys, Reliance Industries and Sun Pharma are in decline.
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