New Delhi: India’s key indices — S&P BSE Sensex and NSE Nifty50 — extended their gains from the previous day’s closing and rallied in early trade on Wednesday.
At 9.55 a.m., Sensex was 0.5 per cent or 251 points up at 53,674 points, whereas Nifty 0.4 per cent or 59 points up at 16,072 points.
Among the stocks, Tech Mahindra, Sun Pharma, Reliance Industries, Adani Ports, and Dr Reddy’s were the top five gainers among the Nifty 50 companies, while Shree Cements, Asian Paints, Power Grid Corporation of India, Kotak Mahindra Bank, and Axis Bank were the top losers, NSE data showed.
“As long as the war lingers and crude remains at high levels a sustained rally is unlikely. High crude oil will impact India’s GDP growth and corporate earnings growth for FY23,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.