Mumbai, Dec 4 (IANS) The Indian stock market opened in green on Wednesday, as buying was seen in the public sector enterprise (PSE) and IT sectors in early trade.At around 9:36 am, the Sensex was trading at 80,094.12 after gaining 248.37 points or 0.31 per cent, while the Nifty was trading at 24,534.05 after rising 76.90 points or 0.31 per cent.
The market trend remained positive. On the National Stock Exchange (NSE), 1,851 stocks were trading in green, while 409 stocks were in red.
Experts said the market has remained resilient amid challenges, so people would be advised to stay invested.
“The signals from the market are a bit confusing. It has ignored the sharp slowdown in Q2 GDP growth. It is remaining resilient despite the massive FII selling. There are many likely headwinds from the Trump presidency. The valuations are elevated with Nifty trading around 20 times estimated FY26 earnings,” they explained.
In this context, investors should adopt a cautious investment strategy with asset allocation as the underlying principle.
“Since the market has been resilient amid challenges, it makes sense to remain invested," they added.
Nifty Bank was up 127.60 points or 0.24 per cent at 52,823.35. Nifty Midcap 100 index was trading at 57,797.45 after gaining 288.45 points or 0.50 per cent. Nifty Smallcap 100 index was at 19,162 after gaining 158.45 points or 0.83 per cent.
In the Sensex pack, NTPC (NS:NTPC), Tech Mahindra (NS:TEML), L&T, ITC (NS:ITC), TCS (NS:TCS), Infosys (NS:INFY), IndusInd Bank (NS:INBK), M&M (NS:MAHM) and HCL Tech (NS:HCLT) were the top gainers. Bharti Airtel (NS:BRTI), Reliance (NS:RELI), ICICI Bank (NS:ICBK), Ultra Tech Cement and Hindustan Unilever (NS:HLL) were the top losers.
In Asian markets, Seoul, Bangkok and China were trading in red, while Japan, Hong Kong and Jakarta were trading in green. In US stock markets, the S&P 500 and Nasdaq Composite ended 0.05 per cent and 0.40 per cent higher, respectively. The Dow Jones Industrial Average ended 0.17 per cent down on the previous trading day.
Foreign institutional investors (FIIs) bought equities worth Rs 3,664 crore in the Indian market on December 3, while domestic institutional investors sold equities worth Rs 250 crore on the same day.
--IANS
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