Brief: Nifty, Sensex, Dow Futures Trade Higher, India VIX Slumps 7.7%
By Malvika Gurung
Investing.com -- Indian benchmark indices opened on a positive note on Wednesday as investor concerns over collapsed US banks ebbed, along with tracking strong gains across Asian markets after Alibaba (NYSE: BABA ) announced plans split into six units, with potential fundraising and listings for most of them.
At 2:12 pm, headlines Nifty50 rose 0.53% to 17,041.3 points and Sensex added 226.53 points or 0.4%.
The market fear barometer India VIX plunged 7.74% to 13.93 levels on Wednesday.
Adani stocks Adani Enterprises (NS: ADEL ) and Adani Ports (NS: APSE ) led gains on the Nifty pack, zooming up to 9% on Wednesday after shedding nearly 10% in the previous session.
Auto stocks Eicher Motors (NS: EICH ), Bajaj Auto (NS: BAJA ), Hero Moto (NS: HROM ) and Tata Motors (NS: TAMO ) followed Adani stocks’ rally on Nifty, gaining up to 3%, while heavyweights M&M (NS: MAHM ), UltraTech (NS: ULTC ), JSW Steel (NS: JSTL ), HCL Tech (NS: HCLT ) and IndusInd Bank (NS: INBK ) contributed to the uptick.
All sectoral indices under the Nifty umbrella were in the green, led by a sharp 3% jump in Nifty Media , while Nifty PSU Bank and Nifty Metal followed. Nifty Bank rose 0.65%.
Market behemoths Reliance (NS: RELI ), UPL (NS: UPLL ) and Bharti Airtel (NS: BRTI ) led the losses on Nifty.
Key US contracts Dow Futures jumped 0.7% and Nasdaq 100 Futures surged by 0.82%.
To understand more about trading and navigating the markets at a time like this, Investing.com is conducting a webinar on Wednesday, March 29, 2023 at 7:30 pm Indian Time. You can find more details here: Where Should You Invest Right Now? Heres Warren Buffetts Advice
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