Sensex Jumps 349 Points as HCL Tech and Tata Motors Top Gainers

Indian equity indices opened in green on Wednesday amid broad-based buying.

At 9:40 a.m., Sensex was at 76,806, up 349 points or 0.46 per cent, and Nifty was up 109 points or 0.47 per cent, at 23,374.

There is a positive trend in the market. The Nifty Midcap 100 index is up 307 points or 0.57 per cent at 53,974 points and the Nifty Smallcap 100 index is up 118 points or 0.68 per cent at 17,690 points.

Twenty-three out of 30 Sensex stocks are trading in green.

HCL Tech, Tata Motors, Tech Mahindra, Wipro, Power Grid, Tata Steel, and TCS are the top gainers. Asian Paints, HUL, Titan, L&T, IndusInd Bank, and Nestle India are the top losers.

India volatility index (India VIX) is down by over 2 per cent at 14.45 points.

According to market experts, "the 32 per cent decline in India VIX during the last 5 days indicates that the days of heightened volatility are over and the market has entered a consolidation phase. From now on the focus will be on fundamentals and news flows."

"Tonight’s US inflation numbers and the Fed policy outcome will influence the direction of the global equity market," they added.

Most of the markets in Asia are trading in the red. Tokyo, Hong Kong, Shanghai, Jakarta, and Bangkok are in the red. However, the Seoul market is in the green. US markets closed mixed on Tuesday.

Crude oil benchmark Brent crude is at $82 per barrel and WTI crude at $78 per barrel.