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The Indian stock market opened on a positive note on Wednesday, December 17. The BSE Sensex rose 176 points to 84,856, while the Nifty 50 was trading above 25,916. Banking and auto stocks showed strength in early morning trading.
Market Recovers After Tuesday’s Sharp Decline
Mumbai: The Indian stock market opened on a positive note on Wednesday, December 17, the third trading day of the week. The key benchmark indices, BSE Sensex and NSE Nifty 50, opened in the green. The Sensex was trading at 84,856.26, up 176.40 points or 0.21 percent. The Nifty 50 opened 42.30 points or 0.16 percent higher at 25,902.40.
Around 9:20 AM, the Sensex was trading marginally higher by 19 points at 84,699, while the Nifty 50 was up 17 points at 25,877. Banking and auto stocks showed strength in the market, while some IT and metal stocks appeared weak.
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The top gainers on the BSE included Eternal, Axis Bank, Maruti, and SBI. The top losers included ICICI Bank, Titan, Trent, and HDFC Bank. Investors showed buying interest in key stocks during the early trading session for higher returns.
On Tuesday, December 16, the Indian stock market witnessed a decline. The Sensex closed down 533.50 points or 0.63 percent at 84,679.86. The Nifty 50 slipped 167.20 points or 0.64 percent to close at 25,860.10. The top gainers in the BSE basket included Titan, Bharti Airtel, Mahindra & Mahindra, Asian Paints, and Tech Mahindra. The top losers were Axis Bank, Eternal, Tata Steel, and HCL Tech.
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Nifty IT, Nifty Smallcap 100, Nifty FMCG, Nifty Bank, Nifty Auto, and Nifty 100 stocks showed weakness on Tuesday. On the previous day, 8 stocks in the BSE basket closed in the green, while 22 stocks registered declines.
Wednesday's market rally has boosted investor sentiment. Experts say that global cues and domestic economic data will determine the direction of the stock market in the coming days. Investors are advised to focus on potential buying opportunities in the banking, auto, and FMCG sectors for now.
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