Mumbai, India (BBN)-The Nifty and the Sensex opened flat to positive owing to positive Asian cues.
The Nifty opened 30 points up at 8,172, while the Sensex opened 47 points up at 26,441, reports The Hindu Business Line.
A report by SMC Global said: “Asian stocks edged higher today reflecting upbeat US growth news, while oil steadied after a sharp drop as OPEC struggled to agree on a production cut. US stocks closed higher on Tuesday with the Nasdaq touching a record, but the market failed to make much headway as oil futures slumped ahead of a key meeting of major crude producers. US consumer confidence index surged to 107.1 in October from an upwardly revised 100.8 in October. Economists had been expecting the index to climb to 101.0 from the 98.6 originally reported for the previous month. With the bigger than expected increase, the consumer confidence index reached its highest level since hitting 111.9 in July of 2007.”
All the broader and sectoral indices were trading flat. Volatility was down 4.61 per cent with the volatility index India Vix quoting at 16.8900.
Among BSE sectoral indices, consumer durables index gained the most by 0.97 per cent, healthcare 0.61 per cent, banking 0.47 per cent and infrastructure 0.43 per cent, while only metal index was down 0.43 per cent.
Top five Sensex gainers were Adani Ports (+1.76%), Asian Paints (+1.35%), ICICI Bank (+1.23%), Maruti (+1.08%) and Lupin (+0.84%), while the major losers were Tata Motors (-0.51%), ITC (-0.41%), Hero MotoCorp (-0.35%), Tata Steel (-0.33%) and Axis Bank (-0.28%).