Sensex, Nifty open at fresh record highs: ITC biggest gainer

Indian benchmark share indices registered fresh record highs today on Wednesday in lieu with strong global cues. Sensex opened at 45,891.04 up 282.53 points or 0.62%, while Nifty jumped up 65.15 points or 0.49% to open at 13,458.10. ITC was up by over 1%, bagging the title of the biggest winner at market opening, while Ultratech Cement slid down -0.47% emerging as biggest loser. Of 30 Sensex shares, 26 opened in the green. All sectoral indices on NSE in the green, with Nifty PSU Bank securing the highest gain after rising up 0.87%, supported by the Central Bank of India, Indian Bank and Maharashtra Bank.

RIL, HDFC Bank, Infosys pulled up Sensex by over 300 points, registering hefty contributions. TCS, Yes Bank, ICICI Bank, JSW Steel, Tata Steel, IRB Infra, Saregama, Indian Bank are some of the stocks in news today. ICICI Bank share price escalated in the early trade on December 9 after the company gave nod to sell its stake in ICICI Securities via offer for sale (OFS). The bank plans to sell up to 2.21 percent stake in ICICI Securities. Yes Bank share price soared up over 8 percent intraday on December 9 after Brickwork Ratings stepped up rating of Tier I Subordinated Perpetual Bonds (Basel II) to BWR BB+/ Stable. Indian bank up 5.3% after raising ₹1,048 crore by issuing bonds on private placement basis.

Indian rupee dropped slightly at 73.59 per dollar on Wednesday versus previous close of 73.52, amid buying witnessed in the domestic equity market. Gold prices in India tumbled down below Rs 50,000 per 10 gm on December 9 in accordance with the trend in international spot prices that slacked down from a two-week high as positive COVID-19 vaccine news lessened its safe-haven appeal. Crude Oil on MCX as of 11:21 am had noted a drop of 0.59%.

“The markets have once again opened on an enthusiastic note but we are still in the midst of the resistance zone of 13400-13700. Regular booking of profits would be a prudent way of approaching the index. While the trend is bullish, traders must trade cautiously and upgrade stop losses so as to conserve their profits. 13100 is a good support for this week,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

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