By Malvika Gurung
Investing.com -- Indian market indices made a higher opening on Wednesday following a strong rebound on Wall Street in the overnight session on the back of upbeat economic data and continued to rise in morning trade.
At 10:19 am, headlines Nifty gained 0.4% to 18,891.1 levels and Sensex added 226.1 points or 0.36%. The market fear barometer India VIX rose 2.5% to 11.05 levels in the session.
In a note provided to Investing.com, Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, points out that the high market valuation continues to be a concern for the near-term, and advises that investors could book some profits at record highs.
Metal stocks led the rally on the Nifty pack, with the heavyweight Adani Enterprises’ stock jumping 5%, while JSW Steel (NS: JSTL ) and Adani Ports (NS: APSE ) gained 2% in the morning trade. On the flip side, banking and financial stocks exerted pressure on Dalal Street, as HDFC Life (NS: HDFL ), Kotak Mahindra (NS: KTKM ), Axis Bank (NS: AXBK ) and ICICI Bank (NS: ICBK ) shed the most on the benchmarks.
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