Nifty trades above 15,850 as the Sensex gains more than 250 points

The increases in bank, auto, and technology sectors drove Wednesday’s opening deals for Indian market indices higher.

The increases in bank, auto, and technology sectors drove Wednesday’s opening deals for Indian market indices higher. As worries about a worldwide recession persisted, stocks in Asia declined.

The euro fell more than 1.5% overnight to $1.0236, its lowest level since late 2002, and European stocks fell 2%. The value of the US dollar held steady at a 20-year high.

Trends on the Singapore Exchange’s Nifty Futures (SGX Nifty) suggested that the domestic indices would begin cautiously.

Early in the day, the broad NSE Nifty advanced 58 points or 0.36 percent to trade at 15,868 while the 30-share BSE Sensex rose 267 points or 0.49 percent to 53,397.

Mid- and small-capitalization shares were trading strongly, with the Nifty Midcap 100 rising 0.61 percent and the small-capitalization index rising 0.50 percent.

The National Stock Exchange’s 15 sector indicators, 12 of which were trading in the green. The NSE platform was outperformed by the sub-indices Bank, Nifty Auto, and Nifty IT, which increased by as much as 0.89 percent, 0.98 percent, and 0.51 percent, respectively.

Asian Paints was the highest Nifty gainer on a stock-by-stock basis, rising 2.62 percent to ₹2,839. BPCL, Hero MotoCorp, Bajaj Finance, and Eicher Motors were also among the winners.

On the BSE, 1,570 equities were in the green while 698 were in the red, indicating a positive market breadth overall.

The top gainers on the 30-share BSE index included Asian Paints, Bajaj Finserv, Bajaj Finance, Axis Bank, L&T, SBI, Maruti, IndusInd Bank, ICICI Bank, ITC, UltraTech Cement, and Kotak Mahindra Bank.

Additionally, shares of Life Insurance Corporation of India (LIC), the largest domestic financial investor and insurer in the nation, increased 0.92 percent to trade at 709.30.

Tata Steel, NTPC, and PowerGrid, on the other hand, were trading in the red.

On Tuesday, the Sensex dropped 100 points, or 0.19 percent, to end the day at 53,134, while the Nifty slid 25 points, or 0.15 percent, down to end the day at 15,811.