Indian markets opened higher ahead of the economical survey to be presented in parliament by the Finance Minister. International signals are also seen as positive, which supported benchmark indices up.
At the very opening, the Sensex gained 135 points and the Nifty gained 18 points in trade, and later the indices fluctuate with gains and losses.
At around 10-am, the BSE benchmark Sensex traded higher at 41029, up by 115 points, while the NSE Nifty stood at 12047, up by 12 points. Track Stock Market Tips updates from here.
Kotak Mahindra Bank, Bajaj Auto, IndusInd Bank, Yes Bank and Mahindra & Mahindra were among major gainers in the Nifty. On the downside, ONGC, PowerGrid, Tata Motors, Indian Oil Corp and Coal India led the major losses.
Sectoral indices in the Nifty were mixed, moving between gains and losses, with the Metal index slipped the most, followed by marginal losses in IT, Pharma and FMCG. For Intraday Nifty tips visit our website.
The Nifty Private Bank index rose the most, up by 0.83 percent followed by Nifty Bank, Financial Service, PSU Bank, Auto and Realty, which were trading positively.
On commodity outlook, Crude Oil prices declined over 2 percent yesterday amid new concerns over the negative economic impact of the Coronavirus spread.
In addition, foreign Institutional Investors reportedly sold shares approximately worth Rs.962-Cr and Domestic Institutional Investors purchased net over Rs.292-Cr, provisionally, as per market data.