Sensex Surges Over 400 Points On Positive Global Cues, Nifty Trades Above 17,450

The Indian equity benchmarks traded higher in opening deals on Wednesday taking cues from the global markets.

Asian shares joined an overnight global rally as hopes rose for a negotiated end to the Russia-Ukraine conflict. The latest round of peace talks took place in Istanbul more than a month after the largest attack on a European nation since World War Two.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) also indicated a gap up start for the domestic indices.

The 30-share BSE Sensex jumped 429 points or 0.74 per cent to 58,372 in early trade, while the broader NSE Nifty moved 143 points or 0.82 per cent up to 17,468.

Mid- and small-cap shares were trading on a positive note as Nifty Midcap 100 moved 0.50 up and small-cap shares climbed 0.92 per cent.

13 out of the 15 sector gauges — compiled by the National Stock Exchange — were trading in the green. Nifty Bank and Nifty FMCG were outperforming the index by rising as much as 0.76 per cent and 0.72 per cent, respectively. Nifty Metal, however, slipped as much as 1.66 per cent.

On the stock-specific front, Tata Consumer Products was the top Nifty gainer as the stock soared 4.17 per cent to ₹ 774.20. Tata Motors, Hero MotoCorp, Cipla and Maruti were also among the gainers.

The overall market breadth stood positive as 1,932 shares were advancing while 543 were declining on BSE.

On the 30-share BSE index, Bharti Airtel, Maruti, Bajaj Finance, M&M, UltraTech Cement, Nestle India, L&T, Asian Paints and IndusInd Bank were among the top gainers.

In contrast, Tata Steel, Tech Mahindra, NTPC, Sun Pharma, NTPC and Reliance Industries were trading in the red.

Sensex has soared 350 points or 0.61 per cent to close at 57,944 on Tuesday, while Nifty had moved 103 points or 0.60 per cent higher to settle at 17,325.